CA Shirish Prakash Biman (Shirish Biman & Company) (129 Points)
21 December 2010
Plz, let me know whether there is any capital gain on unlisted shares?
If so, then what is the rate of tax?
Second query is "against which losses, this gain would be set-off?"
SANYAM ARORA
(“It's hard to beat a person who never gives up.”)
(20173 Points)
Replied 21 December 2010
1...For unlisted shares ........
in case of LTCG....taxable @ 20 @
in case of STCG....treated a snormal income
2....LTCG ONLY FTOM LTCG
AND STCG FROM BOTH....THANX
Sunshine
(Helping All)
(10575 Points)
Replied 21 December 2010
| Originally posted by : Shirish Biman | ||
 |
Plz, let me know whether there is any capital gain on unlisted shares? If so, then what is the rate of tax? Second query is "against which losses, this gain would be set-off?" |
 |
on long term gain @ 20%...loss can be adjusted only with long term capital gain
on short term gain on normal slab rate and loss can be adjusted with short or long term capital gain..
regards,
Sneha
Divya K S
(CA)
(289 Points)
Replied 21 December 2010
Losses under any head can be set off against the gains under capital gains. The exceptions are.
1. Loss from speculation business.
2. Loss from specified business.
3. Long Term Capital Loss cant be set off against short term capital gains.
CA Saba Naaz
(Chartered Accountant)
(8487 Points)
Replied 21 December 2010
LTCG @ 20%
STCG at normal slab rate
Set off : Long term capital loss from LTCG only
Short term capital loss from LTCG or STCG
CA PARAS BAFNA
(Practising CA )
(33428 Points)
Replied 22 December 2010
I agree with all. To make the discussion more interesting- I want to ask about some interesting facts about the shares in Pvt Ltd Co. -
1. Whether shares held for more than 12 months are treated as long term capital asset ?
2. Whether Indexed Cost of acquisition will be taken while calculating LTCG ?
I hope the answer of both the questions is "Yes."
Divya K S
(CA)
(289 Points)
Replied 22 December 2010
Yes. Shares held for more than 12 months is a long term capital asset & indexation can also be taken on the same.
shobha jindal
(article)
(43 Points)
Replied 22 December 2010
Yes Divya is Right....... Shares held for more than 12 months will be Long Term Capital Asset and to calculate LTCG on them indexation has to be done.
CAclubindia
