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