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Sale of equity shares of private company - capital gains tax

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(Querist)
16 July 2010 Dear Sir,
If a member of private company sells his equity shares which he held for more than 3 years, will it attract Capital Gains Tax?
If yes, can indexation be applied?
Thanks.
S. Krishnamoorthy
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jegannath G

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jegannath G (Expert)
16 July 2010 yes, it is a capital assets. Hence capital gains get attracted
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S. Krishnamoorthy

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S. Krishnamoorthy (Querist)
17 July 2010 Can indexation be applied to the Capital Gains of sale of equity shares of private company?
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Sunil Kr. Sanganeria

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Sunil Kr. Sanganeria (Expert)
19 July 2010 Yes Indexation is allowed and tax liability is 20% after indexation
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