Capital Gains
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
11 July 2011
IN a Pvt Ltd Company there are 3 shareholders - MR.X, his wife and his Son with a holding of 60%, 30% and 10% equity shares. If Mr. X and his Son transfer 99% of ther shares to Mrs X i.e. wife of Mr. X, will such transfer be considered as transfer of shares for the purpose of Capital Gains, and if yes then how will the CG be computed.
12 July 2011
Two condition to be fulfilled that is....
1) Share are to be transfer for consideration.
2) Shares are held by Mr X and his Son for the period which is necessary to consider it as Capital gain.
Capital gain can be calculate by reducing the amount of cost of acquisition from the amount of consideration if any surplus amount remain than it consider capital gain.
1) Share are to be transfer for consideration.
2) Shares are held by Mr X and his Son for the period which is necessary to consider it as Capital gain.
Capital gain can be calculate by reducing the amount of cost of acquisition from the amount of consideration if any surplus amount remain than it consider capital gain.
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
- Late Filing Fee Waiver for Q1 Form 144 (Earlier 27Q) – Transition to Income-tax Act, 2025
- Form 144 TDS Return Validation Error – Mandatory Fields
- How do you manage client document collection and follow-ups in your CA/CS practice?
- Applicability of tax on invoice
- Positive Balance in RCM Liability/ITC Statement – Commercial Rent RCM – Guidance Required
- Form 144 TDS Return Validation error
- GST ITC as per notification 12/2023- central tax
- Urd purchase entry in tally prime
- Capital Gains Tax on Inherited Mutual Fund
- GSTR9 Annual Return
- Ito add credit side of bank
- Employee secondment
- Subject: Legal Remedy for Removal of Income Tax Demand for AY 2024–25 – Charitable Trust
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
