Long term capital gain tax on sale of unlisted shares

Job



Hi,

 

Please let me know how we can save Long term Capital gains tax on Sale of Shares in a Pvt Ltd Company.  I have gone through the provisions but it says about purchase of home, investing in infrastructure bonds etc.  

 

Please let me know all the options available for saving tax on Long term Capital gains.

 

Thanks in advance

 
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CA ,CS



If you have LTCG, then following possibilty open for you to save your LTCG tax:-

1) Through the provision of  various Sec 54

2) Set off your LTCL, if possible 

 

 
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Job



Sir,

 

1. We dont have any LTCL

2. Sec 54 of IT Act talks about only LTCG arising from sale of house

 

In this LTCG are arising from sale of unlisted shares, what are options available to save tax on this.

 
Reply   
 
CA ,CS



 

I mean to say the provision of following relevant sec of 54

54EC.  Where the capital gain arises from the transfer of a long-term capital asset  and the assessee has, at any time within a period of six months after the date of such transfer, invested the whole or any part of capital gains in the long-term specified asset

54F.  the capital gain arises from the transfer of any long-term capital asset, not being a residential house  and the assessee has, within a period of one year before or two years after the date on which the transfer took place purchased, or has within a period of three years after that date constructed, a residential house (hereafter in this section referred to as the new asset), 


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