Page 5 - Capital Gains Tax

India Inc seeks leeway on capital gains tax proposal

India Inc has sought exemptions and more clarity on the government's proposal to levy capital gains tax on shares acquired through non-payment of securities transaction tax (STT).According to sources, the Central Board of Direct Taxes (CBDT) has received over a dozen recommendations from various shareholders seeking widening of 'negative list' proposed in the draft notification. Earlier this month, the centre has proposed only three scenarios-negative list-on which capital gains tax will be levied. However, one of the conditions, that listed shares not purchased from stock exchanges would be liable for tax, has created confusion among market players.Inter-se promoters' transfer among group entities; direct allotment of shares such as qualified institutional placement; acquisition of shares by conversion of a debenture or loan and acquisition of shares through gifts are some of the transactions that industry players have CBDT to exclude from the new tax proposal."We have received ...

Capital gains tax on unlisted firms, government to issue exemption list

FM, in Budget 2017, proposed 10% tax on those who acquired shares in unlisted cos after Oct 1, 2004

'Encroached property cannot be considered a capital asset':ITAT

Assessee was neither the legal owner of the property nor was having any document showing any right over the illegally encroached land

Mauritius investors to be taxed from Apr 2017

Move to curb abuse; Singapore treaty next in line, says government

India can now tax capital gains from Mauritius

However, investments made before April 2017 have been grand-fathered.

Be consistent in the tax treatment you ask for

A recent CBDT circular will go a long way towards reducing litigation in the matter of how gains from sale of securities are to be treated

Plan to raise capital gains tax period spooks many

Experts say move to raise period from one to three years could scare markets