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Taxation on selling of unlisted equity shares

(Querist) 10 July 2011 This query is : Resolved 
I am having my company's equity shares and it is not listed yet. I want to sell them and have a ready buyer, and i am in profit. Would like to know that what will be the rate of income tax i have to pay? Do i need to pay STT on sell consideration?
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vinay vaidhya (Expert) 11 July 2011
if it is off market and if it is short term you have pay capital gain tax
soumitra basu (Expert) 15 July 2011
Since the the company is not listed the question of paying security transaction tax does not arise.
The capital gain shall have to be calculated on the basis of holding of shares by you. If it is more than one year it shall be treated as long term, otherwise short term.

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