Long term capital gains (LTCG) tax needs more clarity due to ambiguity on whether or not to consider market value, indexed cost or actual cost of the share at the time of its sale. Shares are an example of movable property. So LTCG tax must be paid from their sales proceeds.
According to me,
LTCG tax must be paid out the sale proceeds of the indexed price of the share. Because whatever maybe the market value of the share or whatever maybe its actual value. The taxable sum of money, that would be derived will be out of the sales proceeds of the shares at the rate of indexed price.
Disclaimer: The above statement is purely personal and may be incorrect. Kindly be noted regarding the same.