Income from unlisted share sale to be taxed

Income from sale of unlisted shares would be treated as capital gains and taxed at a lower rate than business income to have a uniform approach and avoid litigations, the Income Tax department has said. " It has been decided that the income arising from transfer of unlisted shares would be considered under the head capital gain irrespective of period of holding, with a view to avoid disputes/ litigation and to maintain uniform approach,"

Business Standard New Delhi,4th May 2016