Income tax on unlisted company share sell consideration.
This query is : Resolved
10 July 2011
I am having my company's equity shares and it is not listed yet. I want to sell them and have a ready buyer, and i am in profit. Would like to know that what will be the rate of income tax i have to pay? Do i need to pay STT on sell consideration?
11 July 2011
No STT is required to be paid if the transaction is outside the stock exchange. Further income tax will be levied on short tr=term capital gain or long term capital gain as the case may be. If period of holding of shares is more than one year then long term capital gain will be payable as no STT is paid on the transaction.
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