Delhi HC: Workman Cannot Claim Section 17(B) of the ID Act Wages after Reaching Superannuation Age || Allahabad HC: Caste by Birth Remains Unchanged Despite Conversion or Inter-Caste Marriage || Delhi High Court: Tweeting Corruption Allegations Against Employer Can Constitute Misconduct || Delhi High Court: State Gratuity Authorities Lack Jurisdiction over Multi-State Establishments || Kerala High Court: Arrest Grounds Need Not Mention Contraband Quantity When No Seizure is Made || SC: Silence During Investigation Does Not Ipso Facto Mean Non-Cooperation to Deny Bail || Supreme Court: High Courts Cannot Re-Examine Answer Keys Even in Judicial Service Exams || SC: Central Government Employees under CCS Rules are Not Covered by the Payment of Gratuity Act || Supreme Court Holds CrPC Principles on Discharge and Framing of Charges Continue under BNSS || Supreme Court: High Courts Must Independently Assess SC/ST Act Charges in Section 14A Appeals

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 :