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India Budget Series

CLARIFICATION REGARDING DEFINITION OF THE TERM ‘UNLISTED SECURITIES’

Under the existing provisions of Section 112, long term capital gains arising from transfer of securities, whether listed or unlisted, shall be taxed at the rate of 10%. There was an ambiguity as to whether shares of a private company are “securities” for the purpose of this Section.

It is hereby proposed to clarify that long-term capital gains arising from the transfer of shares of a private company shall be chargeable to tax at the rate of 10 per cent.

The amendment shall apply in relation to assessment year 2017-18 and subsequent years.

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