Now, tax worry haunts unlisted share market
Synopsis
Private equity firms are the dominant holders of unlisted shares. Before the clarification, the industry assumed that the law wasn’t intended for shares.
Mumbai: A recent government clarification on tax collection at source may end up increasing costs for private equity funds and owners of unlisted shares. The government had introduced a TCS of 0.1% on sale of goods worth ₹50 lakh and above with effect from October 1. However, through a circular dated September 29, the finance ministry clarified that listed shares are exempt from the ambit of this tax. This has now led to fears that the TCS will
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