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Post by Guest Sat Apr 13, 2013 12:06 pm

my dad owned shares in MSTC. they are valued at around rs 1 crore today. we did not know of the shares till we received accumulated dividend cheques from them. we have been trying to obtain the duplicate share certificates from MSTC for the last 2 years. MSTC has not outsourced its shares handling system (irony). their office if full of red tapism. we have actually written off the shares. anyway:

MSTC bags e-auction contract from Tirupati for selling jewellry & sourcing items

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Post by Seva Lamberdar Sat Apr 13, 2013 12:17 pm

Very interesting news.
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https://docs.google.com/document/d/1bYp0igbxHcmg1G1J-qw0VUBSn7Fu

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Post by truthbetold Sat Apr 13, 2013 3:02 pm

Hk,
if you have written off these shareson your it returns, you may have to pay a hefty tax when you sell them (full price will be considered capital gains) .

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Post by Guest Sun Apr 14, 2013 1:45 am

truthbetold wrote:Hk,
if you have written off these shareson your it returns, you may have to pay a hefty tax when you sell them (full price will be considered capital gains) .
well, they will not appear on the IT return till we get the duplicates and get them transferred in our name by MSTC. we have been unable to encash the dividends too. let me talk to my CA for i am in doubt now.

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Post by Marathadi-Saamiyaar Sun Apr 14, 2013 2:13 am

Let me know... I have a few shares from companies I dont even know still exist

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Post by Guest Sun Apr 14, 2013 9:26 am

Marathadi-Saamiyaar wrote:Let me know... I have a few shares from companies I dont even know still exist
i spoke to my CA. in my case the shares were owned by my father. he said,

(i) they can be introduced in our (us siblings) files at any time;
(ii) proof will be required to show that they appeared in my late father's IT file also;
(iii) since my father's IT files are no longer available with us and since more than 8 years have passed since his demise (thus not even available with the IT dept.), (ii) can be waived on grounds of limitation.

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