SC: Ex-Contract Workers Must Be Preferred When Employers Replace Contract Labour With Regular Staff || SC: Waqf Tribunals Cannot Hear Claims over Properties Not Listed or Registered under Waqf Act || Supreme Court: Stray Dog Attacks on Beaches Adversely Impact Tourism || Chhattisgarh HC: Court Employees Cannot Enroll as Regular LLB Students in Breach of Service Rules || Kerala HC: Telling Someone to "Go Away And Die" in Anger Does Not Amount to Abetment of Suicide || Kerala HC: High Courts Work On Holidays; Denying Compensatory Leave To Officers Violates Art. 229 || Del HC: Probationers are ‘Workmen’ under ID Act; S.17B Wages not Recoverable if Termination Upheld || Supreme Court: Confession Without Corroboration Cannot Form the Basis of Conviction || SC: Higher Land Acquisition Compensation to Some Owners Cannot Invalidate Awards to Others || SC: Prior Written Demand is Not Mandatory For an Industrial Dispute to Exist or be Referred

Proceeds from unlisted share sale to default to ‘Capital Gain’ head- (Ministry of Finance ) (05 May 2016)

MANU/PIBU/0417/2016

Direct Taxation

The Central Board of Direct Taxes directed its offices that income from transfer of unlisted shares irrespective of period of holding would be taxable under the ‘Capital Gain’ head, unless otherwise determined by the Assessing Officer.

The Board hopes the same will bring predictability regarding taxability of income from transfer of shares and reduce litigation.

Relevant : Issue of taxability of surplus on sale of shares and securities MANU/DTCR/0007/2016

Tags : UNLISTED SHARES SALE CAPITAL GAIN INCOME TAX

Share :