Taxation of unlisted share transfers: transfers by SEBI-registered Category I and II AIFs taxed as capital gains despite control exception. Income from transfer of unlisted shares shall be treated as Capital Gains irrespective of holding period. The exception for transfers involving transfer of control and management of the underlying business will not apply to transfers made by SEBI-registered Category I and Category II Alternative Investment Funds; such transfers by these AIFs are to be taxed as capital gains and this clarification is to be applied by tax officers for compliance.
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.
Taxation of unlisted share transfers: transfers by SEBI-registered Category I and II AIFs taxed as capital gains despite control exception.
Income from transfer of unlisted shares shall be treated as Capital Gains irrespective of holding period. The exception for transfers involving transfer of control and management of the underlying business will not apply to transfers made by SEBI-registered Category I and Category II Alternative Investment Funds; such transfers by these AIFs are to be taxed as capital gains and this clarification is to be applied by tax officers for compliance.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
