Long-term capital gains on shares of closely held companies now taxable at a specified concessional rate. The amendment broadens section 112(1)(c)(iii) by substituting 'unlisted securities' with 'unlisted securities or shares of a company not being a company in which the public are substantially interested,' thereby subjecting long-term capital gains from transfers of such privately held company shares to the concessional long-term capital gains tax treatment, effective from 1 April 2017 for assessment year 2017-2018 onwards.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Long-term capital gains on shares of closely held companies now taxable at a specified concessional rate.
The amendment broadens section 112(1)(c)(iii) by substituting "unlisted securities" with "unlisted securities or shares of a company not being a company in which the public are substantially interested," thereby subjecting long-term capital gains from transfers of such privately held company shares to the concessional long-term capital gains tax treatment, effective from 1 April 2017 for assessment year 2017-2018 onwards.
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