Income tax query
Ajnas (Student) (844 Points)
21 September 2020
Priavte limited company share is transferred for consideration, capital gain tax is applicable on such share transfer?
1 Replies
Sagar Patel
(Tax and Business Consultant)
(11611 Points)
Replied 22 September 2020
Yes, of course... ...long term - Short Term capital Gain, as the case may be.
Note: Unlisted shares and immovable property (being land or building or both) held for not more than 24 months immediately prior to the date of transfer shall be treated as short-term capital asset.
Note: Unlisted shares and immovable property (being land or building or both) held for not more than 24 months immediately prior to the date of transfer shall be treated as short-term capital asset.
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