Person liable under Sec 47A
This query is : Open
10 February 2011
Under Sec47A of IT Act, capital gain on transfer between Holding & subidiary which were exempt under Sec 47 would become taxable under certain circumstances and it is chargeable in the year of such occurrance.
The question is who is liable for tax payment - Transferor or Transferree?
If it is transferor (assuming- holding co)and such holding co was aquired by another company, who will be held liable?
The question is who is liable for tax payment - Transferor or Transferree?
If it is transferor (assuming- holding co)and such holding co was aquired by another company, who will be held liable?
11 February 2011
Transferor has to pay the tax in all cases .
If holding compnay is acquired by others, other will pay the tax liability.
If holding compnay is acquired by others, other will pay the tax liability.
12 February 2011
Sir
Is there any Case Law to this view
Is there any Case Law to this view
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- TDS U/S. 194NF
- GST on export of services and Input Credit
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- ITC temporary reversal and reclaim
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- Applicable TDS rate for sale of property in Nov 2024
- GST ON EXPORT COMMISSION
- Should I report my US salary for January, February, March in Schedule FA?
- Inventory of finished goods
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding einvoice taken on nil rated sales
Trending Online Classes
CAclubindia
