AN ASSESSEE HAD PURCHASED SHARES OF A PRIVATE LIMITED COMPANY IN CASH BY PROVIDING CASH ON DIFFERENT DATES OF DIFFERENT AMOUNTS I.E. ON ONE DATE FOR RS. 20,000/- AND ON ANOTHER DATE FOR RS.60,000/-.
WHAT WOULD BE THE TAX IMPLICATION FOR PURCHASING THE SHARES IN CASH.


Admin’s Response:

There are no tax implications as long as there is a genuine purchase transaction through a proper channel.