Kerala HC: Ex-CISF Personnel can Buy Liquor from CAPF Canteens || Kerala HC: Accused Can Respond Virtually or in Writing || Kerala HC: No Caste or Lineage Required for Temple Priests || Kerala HC Orders SIT Probe into Sabarimala Gold Loss || Kerala HC Cancels Mohanlal’s Ivory Ownership Certificates || Allahabad High Court : Deceased Farmer’s Odd Jobs Don’t Bar Family from Scheme Benefits || Secured Creditors' Dues Take Priority Over Govt Claims: Allahabad HC on SARFAESI & RDB Acts || Daughter Can’t Claim Mitakshara Father’s Property if He Died Pre-1956 & Son Survives: HC || Gujarat High Court: Sessions Court Can’t Suspend Sentence Just to Allow Revision Filing || Delhi High Court: Non-Combat Security Roles Crucial; Minor Lapse Risks National Safety

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 :