12 November 2014
Please guide, what would be the taxation for shares sold of a pvt ltd company held for more than 3 years. Is there any new provision,wherein such sales of shares are treated at par with listed company shares and are exempt from any tax ?
12 November 2014
no. exemption is available. you will have to pay tax on it like a normal LTCG. you can claim exemption under section 54EC or 54F though
12 November 2014
no. exemption is available. you will have to pay tax on it like a normal LTCG. you can claim exemption under section 54EC or 54F though
13 November 2014
The amendment to section 2(42A) of the I-T Act has changed the defincition of capital asset,it proposes that securities (other than a listed security) and units of mutual funds (other than equity oriented funds) [hereinafter referred to as 'Securities'] shall be regarded as short term capital asset where the same are held for a period of less than 36 months.So, does it mean that holding of more than 36 months will bring unliste d securities at par with listed securities and they will enjoy the same benefit that listed securities enjoy of ltcg exemption ?
13 November 2014
the the definition has been changed for determining the long term or short term...not the taxation on the same. sale of shares of private limited company are not eligible for similar treatment to that of listed companies.
CAclubindia
