Transfer of property
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
15 February 2010
My director wants to tranfer his personal property in the name of company through power of attorney whether in this way capital gains will arise and can company capitalised this property in their books.Pls advice is there any way to save capital gains in this way but note one thing that consideration is required from company to director. pls suggest any way to save capital gains
Maninder Jain
(Expert)
16 February 2010
Lets say the Cost of acquisition of property is 100 & now the market value is 1000.
Transfer the property at 100 & pay director 100.
For the rest 900, fully paid bonus shares can be issued to Director
Transfer the property at 100 & pay director 100.
For the rest 900, fully paid bonus shares can be issued to Director
CA Sanjeev Kr Jain
(Expert)
18 February 2010
but bonus shares are to be issued to all shareholders not only the concerned director
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