Del HC: Pre-SCN Consultation is Unnecessary in Large-Scale GST Fraud Cases with Complex Transactions || Calcutta HC: Unilaterally Appointed Arbitrator Violates Natural Justice and Sets Aside the Award || Raj HC Upholds Padmesh Mishra’s AAG Appointment, Noting Advocacy Skill isn’t Tied to Experience || Supreme Court: Photographing a Woman not Engaged in Private Acts Does not Constitute Voyeurism || SC Directs UPSC to Permit Scribe Changes Till Seven Days Before Exams and Review Screen-Reader Use || Madras HC: Freedom of Religion Cannot Extend to Disturbing Peace Within Temple Premises || Delhi HC: Lokpal Cannot Form a Prima Facie View on Corruption Without Hearing The Official || MP High Court: DRT Cannot Restrict or Impose Conditions on a Person's Foreign Travel || Bombay HC: Results of Dec 2 And 20 Local Body Election Must be Declared Together || Delhi HC: Employment Disputes Cannot be Treated as Commercial Cases under the Act

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 :