Sale of shares in a private limited company
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
16 April 2013
Hi,
I have bought shares in a private firm (not listed) in august 2011(as per share certificate). I am planning to sell the shares now. I have following queries about the same.
1. Is the profit amount taxable? can it be considered as long term capital gains?
2. What is the procedure at the time of selling the shares?
3. What are the documents I should give/take from the firm?
Thanks and Regards
I have bought shares in a private firm (not listed) in august 2011(as per share certificate). I am planning to sell the shares now. I have following queries about the same.
1. Is the profit amount taxable? can it be considered as long term capital gains?
2. What is the procedure at the time of selling the shares?
3. What are the documents I should give/take from the firm?
Thanks and Regards
16 April 2013
Regarding tax aspects only,
It would be taxable as LTCG @ 20%. No exemption is available for shares not sold on payment of STT.
It would be taxable as LTCG @ 20%. No exemption is available for shares not sold on payment of STT.
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Querist : Anonymous
Querist :
Anonymous
(Querist)
17 April 2013
Thanks for your reply.
Can you please let me know the documents I should get from the firm for tax purposes?
Regards
Can you please let me know the documents I should get from the firm for tax purposes?
Regards
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