Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding


  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram

TMI Blog

Home

In order to bring about certainty and predictability regarding taxability of income arising from transfer of shares, CBDT gives directions to its field formations that the income arising from transfer of unlisted shares, irrespective of period of holding, would be taxable under the head ‘Capital Gain’ except in certain circumstances.

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... In order to bring about certainty and predictability regarding taxability of income arising from transfer of shares, CBDT gives directions to its field formations that the income arising from transfer of unlisted shares, irrespective of period of holding, would be taxable under the head ‘Capital Gain’ except in certain circumstances. - News and Press Release Dated:- 5-5-2016 - News - Central Bo .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ard of Direct Taxes (CBDT) vide its Order dated 2 nd May, 2016 has given direction to its field formations, with a view to avoid disputes/Litigation and to maintain uniform approach that the income arising from transfer of unlisted shares, irrespective of period of holding, would be taxable under the head Capital Gain except in certain circumstances where the Assessing Officer would examine the .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... issue and take appropriate view. This order is in continuation to the earlier circular of CBDT (circular No.6/2016 dated 29.2.2016), wherein position of Income Tax Department regarding transfer of listed shares and securities was spelt out. With these initiatives, it is expected that there would be much needed certainty and predictability regarding taxability of income arising from transfer .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... of shares. Consequently, due to uniformity in approach, tax disputes and litigation on this issue would reduce substantially. The full text of the order is available on the official website of the Income Tax Department www.incometaxindia.gov.in for viewing. Also see: LETTER F.NO.225/12/2016/ITA.II - 2-5-2016 6/2016 - 29-2-2016 - News - Press release - PIB Tax Management I .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ndia - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

 

 

 

 

Quick Updates:Latest Updates