Sale of unlisted shares
This query is : Resolved
vikramsingh parmar
(Querist)
05 December 2016
Hello everyone, I have query regarding tax on sale of unlisted shares. I had got 45 shares from pvt ltd company as a director and share holder without consideration in aug 2016 now want to sales out those shares to NRI person for around 70 Lacs. What would be tax liability. As I hold shares for short period of time and also got them without consideration, so I am much confused please help.
sandip rai
(Expert)
06 December 2016
In your case cost of consideration would be Nil and therefore short term capital gain tax would be charged on sale consideration. sale of share share to NRI please look at RBI guidelines.
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