as per sec 2(47) of capital gains, transfer of a capital asset to a 100% subsidiary is exempt from tax. But how can there be a 100% subsidiary? there must at least 2 (or) 7 members in a company. so how can a company avail this exemption?
thanks in advance if you reply to it
100% subsidiary does not mean 100% shareholding....It means 100% control over the management......
Hope this will solve ur confusion.....
hey the answer for that question is here my tax madam has given this
here is the answer
S.B.G. & CO. CHARTERED ACCOUNTANTS
New Delhi
CA Inter
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RMA And Associates LLP
New Delhi
CA Inter
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CCI
Pro
CAclubindia
