Income tax return - details of unlisted shares

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imkdm (Querist)
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22 June 2019 Respected,
In Income Tax Returns for A.Y. 2019-20, we need to submit details of unlisted equity shares. Should we also submit details of shares of Co-operative societies (not banks) if such shares are held by the individual?

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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22 June 2019 No, because society is not a company.
Inference - Claus (i) [ ist column ] of part A Gen.

imkdm

imkdm (Querist)
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22 June 2019 Yes. In ITR Forms, first details to be given about 'unlisted shares' is "name of company". So naturally co-operative societies or co-operative credit societies are excluded here. Assessee need not furnish details of the same. Moreover, co-operative societies hardly issue shares at premium. Also shares of co-operative societies are hardly transferable. So very little tax implications there.

Thanks for spot on answer!

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