The income tax department views the sale of proceeds of such shares as “unexplained cash credit” or “unexplained money” subjecting it to a flat tax rate of 60%.
Mcap of top-10 most valued firms slumps Rs 4.95 lakh cr; TCS, Reliance hardest hit
The combined market valuation of all the top-10 most valued firms plunged Rs 4,95,061 crore last week, in line with a bearish trend in equities,