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

CA Sourabh Agarwal

CA Sourabh Agarwal (Expert)
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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.

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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

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