listed n unlisted security
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
03 August 2010
what is the difference b/w listed n unlisted security.. i mean apart from the fact that listed are listed on stock exchange for the purpose of cap gain
03 August 2010
As per Income Tax Act.
Securities listed in a recognized stock exchange is called Listed securities.
Securities not listed in a recognized stock exchange is called unisted securities.
Section 112
Provided
that where the tax payable in respect of any income arising from the transfer of a long-term capital asset, being listed securities 10[or unit] 11[or zero coupon bond], exceeds ten per cent of the amount of capital gains before giving effect to the provisions of the second proviso to section 48, then, such excess shall be ignored for the purpose of computing the tax payable by the assessee.
12[Explanation.—For the purposes of this sub-section,—
(a) “listed securities” means the securities—
(i) as defined in clause (h) of section 213 of the Securities Contracts (Regulation) Act, 1956 (32 of 1956); and
(ii) listed in any recognised stock exchange in India;
(b) “unit” shall have the meaning assigned to it in clause (b) of Explanation to section 115AB.]]
Securities listed in a recognized stock exchange is called Listed securities.
Securities not listed in a recognized stock exchange is called unisted securities.
Section 112
Provided
that where the tax payable in respect of any income arising from the transfer of a long-term capital asset, being listed securities 10[or unit] 11[or zero coupon bond], exceeds ten per cent of the amount of capital gains before giving effect to the provisions of the second proviso to section 48, then, such excess shall be ignored for the purpose of computing the tax payable by the assessee.
12[Explanation.—For the purposes of this sub-section,—
(a) “listed securities” means the securities—
(i) as defined in clause (h) of section 213 of the Securities Contracts (Regulation) Act, 1956 (32 of 1956); and
(ii) listed in any recognised stock exchange in India;
(b) “unit” shall have the meaning assigned to it in clause (b) of Explanation to section 115AB.]]
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