Hello,
In a Pvt Ltd Company, a HUF is a share holder. It wants to sell shares(whose cost was NIL since they were Bonus Shares) to its Karta and wife of Karta. The period of holding is less than 12 months, so its is Short Term.
Whether Capital Gain will be attracted? If yes, what rate? 15% or slab rates?
As per income tax act ,the period fof holding of bonus share is taken from actual adte of issue .so in ur case it less than 12 month so it is short term CG.Again for Calculate of capital gain of bouns share the cost of acquisation would be nil .and sec 111A of income tax act should applies which 15% in ur case.
I heard that since the company is not a listed Company(it is not even a public limited co, its a Pvt Ltd), STCG would taqxed at slab rates. Correct?
O P Bagla & Co LLP
New Delhi
CA Inter
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