HAVE SHARES IN PRIVATE LIMITED COMPANY

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This discussion clarifies how to declare shares held in a private limited company when filing your Income Tax Return (ITR). For ITR-3 filers with a balance sheet, shares can be listed under investments. However, for ITR-4, which doesn't typically include a balance sheet, direct declaration of shareholding isn't usually possible unless it's through dividend income. While the 'other assets' column in ITR-4 is generally for business-related items, it might be an option for personal declaration if intended, though not standard practice.

RAJA P M

RAJA P M (Querist)

21 December 2022 Dear Experts, I have some shares in a Pvt Ltd Company. I will file my ITR. So, What can I do about this Shares...? Can i show the share details in ITR...? (under ITR-3 --> "Whether you have held unlisted equity shares at any time during the previous year?" ) Please reply as soon as possible. Thanks & Regards

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)

21 December 2022 If you are filing balance sheet with capital account in ITR 3, you can declare them under investment; but otherwise no details need to be filled under general information.

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RAJA P M

RAJA P M (Querist)

22 December 2022 Thank You sir.

Can It also through ITR4...?

What about a employee having share in the company and salaried employee...?

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Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)

22 December 2022 In ITR 4 there is no question of BS, so any individual investment cannot be declared.
Even in that case if investment i.e. BS option available (as in ITR 2/3), you can declare; otherwise not.
Only option to declare is Dividend income, if any.

RAJA P M

RAJA P M (Querist)

22 December 2022 Okay Sir...
One more doubt. In case the person file with ITR 4 and declare (or not) the amount in the other assets column.
Then it will make any problems...?

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Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)

22 December 2022 The other assets there are related to business and not personal.
Still if you have any particular intention to declare them in ITR, you may add them.

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RAJA P M

RAJA P M (Querist)

23 December 2022 Okay Sir,
Very Very thank You...

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)

23 December 2022 Most welcome, Dear..

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