Shares
This query is : Resolved
15 December 2013
what would be the taxability if the share application is sold to the broker ?
15 December 2013
In general, the shares alloted in the application are capital asset and are in the name of the applicant. Selling the application means transferring such shares to the broker. In my view, the applicant will be liable to short term capital gain.
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Selling applications without allotment-
Any premium so received may be treated as business income.
.
.
Selling applications without allotment-
Any premium so received may be treated as business income.
.
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