Itr 2 - reporting details of unlisted shares - ay 2019-20


ITR 2 for AY 2019-20 requires us to report full details of unlisted shares, including PAN no. of the companies.

Unlisted shares could arise due to voluntary delisting (after initial listing), due to violation of listing requirements, shares issued arising from demerger from another company with clear indication that the demerged company would be unlisted, companies closing down due to losses/other business problems, companies that issued shares in IPOs but later turned out to be by 'fly by night' operators, etc. In most of these cases, these unlisted companies do not send annual reports or other communications. No information is also available about these companies' activities from stock exchanges/Internet.

In this scenario, how does a person holding unlisted shares, whether in demat mode or not, be able to report the PAN no.of the companies, on the ITR form? Most of these shares are in physical mode and are not worth even the paper the certificates are printed.

Further, why does the Govt. want a complete list of all unlisted shares? Would it not suffice if details of only those unlisted shares that were acquired and/or sold (if one is lucky enough to find a buyer!) during the FY? In any case, sales of unlisted shares have to be reported under Capital Gains on the ITR form.

I feel the Govt. needs to rethink on this item on the ITR form, including the need to report the PAN of the companies, when no details about the company are available from any source.

I request experts to give their suggestions on this subject. Thanks.

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Yes, its unnecessary for penny stocks.

First they should provide list of PAN and other required details of all the companies, before asking such details.

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I have shares of CO-OP Banks . I believe these are to me mentioned in the ITR2.

Do I also have to mention PNCPS of the Banks (Perpetual Non-Cumulative Preference Shares (Non Transferable) ?

If yes, how to differentiate between the two since ITR2 has no provision for the same?


Filling details of unlisted shares (including PAN No) in ITR 2 is really cumbersome, time consuming and may be next to impossible to comply fully. Details of PAN is not available for most of such companies. There are loss making companies which are dormant/under liquidation/already liquidated. Somebody might shares purchased by their parents and difficult/not possible to even transfer. Their registered office might have been shifted. Hence to get PAN of such companies is difficult and may be some times impossible. Hence matter needs to be taken up with government. Government should ask for list of unlisted shares but should avoid asking PAN No till some agencies like MCA. put such information on their website. This will serve purpose of government and reduce hassles of genuine tax payers Government have some specific intention of getting such information behind such information, but it will affect genuine tax payers. Particularly, I had planned to fill the income tax return by first week of June, as I will be away for next two months, but I am stuck up.

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