19 Aug , 2022 By : Kanchan Joshi
Bonus share 2022: Board of directors of micro-cap company Saianand Commercial Ltd is going to consider and approve bonus share issues next week. As per the latest exchange filing of the company, which is available on the BSE website, the company board is going to consider and approve issuance of bonus share in its meeting scheduled on 25th August 2022.
Informing Indian stock market exchanges about the developments in regard to bonus share issue, Saianand Commercial Ltd said, "Pursuant to Regulation 29 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby like to inform you that a meeting of the Board of Directors of the Company will be held at registered office of the company on Thursday, 25th day of August, 2022 inter alia, to recommend and approve the issue of bonus shares to the equity shareholders of the company."
Saianand Commercial share price history
Shares of Saianand Commercial are one of those penny stocks that have delivered multibagger return to its shareholders in 2022. It has doubled shareholders money in last two months surging from Rs0.92 to Rs1.90 apiece levels. It is a microcap stock that ended on Thursday with a market cap of rs2.16 crore. Its trade volume on Thursday was around 9.42 lakh, which is much higher than its average trade volume of 5.50 lakh for last 20 sessions. Its 52-week low is rs0.88 whereas its 52-week high is Rs2.08 apiece.
Income tax rules on bonus shares
As per the taxation rules in regard to bonus shares, cost price of bonus shares would be considered zero if it has been issued after 31st January 2018 whereas in case of bonus share issuance on or before 31st January 2018, its cost price will be considered its close price on 31st January 2018. Apart from this, selling of the shares post-bonus share issue is considered on FIFO (First In First Out) basis. Means, if a shareholder decides to sell shares after issuance of bonus shares, initially the shares he or she bought would be considered sold out and once the initial shares are sold, only then bonus shares are considered sold out.
For example, if a person holds 50 shares of a company and he gets 25 bonus shares of the company. Then he will have 75 total shares of the company after issuance of bonus shares. IF the shareholder decides to sell out 25 shares out of 75 shares, then in that case, its 25 out of the first 50 shares prior to bonus share issue will be considered sold out not the bonus shares. bonus shares can be considered sold out only when the shareholder sells out first 50 shares that it had in its demat account before issuance of the bonus shares.
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