Sale of partly paid share

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

08 February 2013 A LTD. ALLOTED PARTLY PAID SHARE TO B LTD. AFTER THAT B LTD. SHOW IN BOOKS PURCHAE OF PARTLY PAID SHARE
MY QUESTION IS

CAN HE SALE THE PARTLY PAID SHARES, IF SALE THEN WHAT WILL BE THE INCOME TAX TREATMENT

CA Kishore Tallam

CA Kishore Tallam (Expert)
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08 February 2013 Partly paid shares can be sold. There will not be any separate treatment for sale of partly paid shares in IT.
Sale consideration - Cost / Indexed cost of acquisition is chargeable to tax.