08 May 2019
In response to Mr. Sanjay's query 6.5.2019 on the above subject, respected Expert Shri R. Seetharaman has opined that only those unlisted shares purchased direct from a company need to be reported, and not others. Many people had purchased shares in IPOs in the past which later became unlisted; further, some companies issued shares of their subsidiary companies in unlisted form when they demerged these subsidiaries.
I request Shri Seetharaman and other experts to give details of any circular or other instruction/reference which clarify the type of unlisted shares that need to be reported in ITR 2 for FY 2019-20. Thank you.
17 May 2019
Where a company issues shares at a price which is less than its FMV and the difference between the FMV and issue price exceeds Rs. 50,000 then the difference is charged to tax in the hands of the shareholders under the head income from other sources.
In order to keep check on issue of shares by a closely held companies and investment made therein by shareholders, a new table has been inserted in new ITR forms to seek the following details in respect of unlisted equity shares held at any time during the previous year by an assessee:
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