Patna HC: Disciplinary Authority Cannot Impose Major and Minor Penalties in a Single Order || Calcutta HC: Landlord Decides His Residential Needs; Courts Cannot Set Living Standards in Eviction || Orissa HC: Second Marriage During Subsistence of First Remains Invalid Even After First Wife's Death || Karnataka HC: Appeals Against Acquittal in Bailable Offences Lie Only Before High Court || Supreme Court: Stamp Duty on an Agreement to Sell is Leviable Only if Possession is Transferred || SC: Motive Becomes Irrelevant When Direct Evidence Such as a Dying Declaration is Available || Supreme Court Issues Directions to CoC in Builder Insolvency Cases To Protect Homebuyers’ Interests || MP High Court: Women Retain Reservation Benefits After Marriage if Caste is Recognized in Both States || Allahabad HC: Police Must Prosecute Informants of False Firs, and IOs May Face Contempt if They Fail || MP HP: Over-Age Candidate Cannot Claim Age Relaxation Due to Delay in Earlier Recruitment

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 :