My bro;ther want to sell his unlisted company. what are the rules for long term capital gains. what are the relevant sections in the income tax laws. thanks.
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Capital gains selling companies
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The Sale value of the Unlisted Compny shall be the Lump sum consideration received from the buyer. The purchase price of the Unlisted Company shall be the Net Worth of the company.
Refer section 50B of the Income Tax Act, 1961 for more information.
Regards,
Devendra Kulkarni
CAclubindia
