Unlisted Shares & scurities are not listed on any recognized stock exchange. Thus, the Company does not pay STT i.e. Securities Transaction Tax on such shares. if the period of holding is 24 months, Short-term capital gains are applicable. Similarly, long-term gains arise if the unlisted stocks are sold after 24 months. Long-term Capital gain tax is leviable at 20% with the benefit of Indexation.