Save Rs 499 on a 2-Year Ad-Free CAclubindia Pro Membership. Subscribe Now!

share obligation on unlisted shares

Others 1710 views 4 replies

geetha

under internship

23 Points Posted on 02 February 2008

what is the tax obligation on selling pvt. or unlisted shares which is 7 yrs old where the STT and other stipulation by the Govt. as such is not mandatory? whether it will come under capital gains or not?

When the tax is to be paid in the current quarter of the FY or when it is actually due for the individual?

Replies (4)

Guest

460255 Points Posted on 03 February 2008

The amount so received will be taxable under the head of long term capital gain and accordingly LTCG is to be paid.

Guest

460255 Points Posted on 03 February 2008

Though the long term capital gains stand at 10% somebody told it is 20% on unlisted shares. what is that LTCG?( is it long term cap. gains) pls clarify... Thankyou, sir.

Vijay

254 Points Posted on 22 February 2008

HI Geetha
Shaes that is sold through Exchange is liable for STT and it is exempted from LTCG. In ur case it is sold privalely so it is liable for LTCG @ 20%.
You have not to bother abt STT its not applicable in ur case.
Pls let me know if more required,
Thanks
Vijay

Guest

460255 Points Posted on 28 February 2008

I m holding shares of unlisted company and transferring it into the joing name in which first shareholder remains the same. will LTCG Tax applicable? and if I transfer the said shares to others as gift than LTCG Tax will applicable to me or not?