Capital Gains Tax on Shares received from Father

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  1. Arzoo

    Arzoo New Member

    Hi...
    My father gifted me some unlisted shares in Dec 2014 which he had receieved as bonus in 2009. now if i sell these shares in April 2015 will i be levied Short Term Capital Gains (since my holding is less than a year) or Long Term CG ?
    Thank you
     
  2. Parul_Gupta

    Parul_Gupta Active Member

    The period of holding of such shares would be considered from 2009

    As these have been held for more than 1 year, therefore these would be classified as Long Term Capital Gains.

    Long Term Capital Gains on sale of shares which are sold on a stock exchange are exempted from the levy of any income tax.
     
  3. Arzoo

    Arzoo New Member

    Thank you
     
  4. king999maker

    king999maker Active Member

    you are wrong ms Akanksha23 that was unlisted shares hence it is taxable as LTCG
     
  5. Parul_Gupta

    Parul_Gupta Active Member

    Irrespective of whether the shares are listed or unlisted at the time of purchase, if they are sold on a recognised stock exchange - STT would be automatically levied and therefore they will get exempted.

    I have mentioned the same above as well that in case these shares are sold on a Recognised Stock Exchange - No Capital Gains Tax would be liable to be paid.
     
  6. king999maker

    king999maker Active Member

    but he clearly mentioned those were unlisted shares how can those UNLISTED( means a company not listed in the recognised stock exchange) shares can be sold in a stock exchange?? if we are unable to sell in stock exchange, how can the exchange levies STT on those shares??
     
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