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CAPITAL GAIN

arjun g (STUDENT(ARTICLESHIP)CAFINAL) (43 Points)

31 December 2017

hot to treat lease deposit given to director before closing the company. it's Pvt LTD
only deposit is the asset no other liability whether any tax applicable if company is closed

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5 Replies

Rishi Mehta (Ur friend ) (1533 Points)
Replied 01 January 2018

Refer the provisions contained under Section 46(2) of the Act.

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arjun g (STUDENT(ARTICLESHIP)CAFINAL) (43 Points)
Replied 01 January 2018

it only gives full value of consideration, can we take deduction for share capital invested initially and pay tax

Rishi Mehta (Ur friend ) (1533 Points)
Replied 01 January 2018

Deemed divided u/s 2(22)(c) Distribution on liquidation

Rishi Mehta (Ur friend ) (1533 Points)
Replied 01 January 2018

Any distribution made to the shareholders of a company on its liquidation, to the extent to which the distribution is attributable to the accumulated profits of the company immediately before its liquidation, whether capitalised or not, is deemed to be dividend income

Rishi Mehta (Ur friend ) (1533 Points)
Replied 01 January 2018

Refer section 49 to know the Cost of acquisition in your case. if you will go through the sub section of this section , then, you will be able identified Cost of acquisition.