Unlisted shares and ITR

337 views 4 replies

Rocks Parss

261 Points Joined June 2019

In ITR there is question relating to unlisted shares. Can somebody revert on the implications of the same? To illustrate often shares listed for many years decide to delist after necessary statutory approval etc - should these now be included? Further the ITR asks for PAN - does it mean that one has to obtain that Companies PAN etc?

Replies (4)

CA Raj Doshi

Practising CA

8944 Points Joined December 2013

Yes. Even delisted shares require reporting as they were unlisted for anytime during the previous year. Yes you will require companies PAN or else you can mention PANNOTAVBL if the field accepts

J S BHAVSAR

CONSULTING

1320 Points Joined April 2008

The PAN for such delisted or unlisted shares where the shareholder does not know the PAN then it must be entered as NNNCN0000N.

Earlier before new portal in the Excel utility we were entering NNNNN0000N.

However the new portal logic is saying that the fourth character of the PAN should be "C". But the instructions provided for ITR2 on new portal are giving last year logic. It is classic example of Right hand not knowing what Left hand is doing. New tax portal and the associated guidelines is a disaster.

Rocks Parss

261 Points Joined June 2019

Thanks - may try accordingly

Neeraj Aggarwal

2 Points Joined December 2021

Sir, there seems to be another issue in Unlisted Securities schedule in ITR 3. The form compulsorily asks for a purchase date during the year even when there is no fresh purchase during the year & only opening balance is to be carried forward. The date has to be between 1st April 2020 & 31st Mar 21. How to resolve that in ITR 3?

In ITR2 the same issue is there but there is no date limitation so one can put original purchase date during past years & successfully validate. But in ITR3, this is not allowed. Kindly guide.