Sale of liquor license income tax implications
Krishna Reddy (8 Points)
25 November 2019
sale of liquor license income tax implications
3 Replies
Kapadia Pravin
(17259 Points)
Replied 26 November 2019
Is it saleble / transferrable ?
I don't think so.
Anyone please enlighten
I don't think so.
Anyone please enlighten
Raju P S S
(Consultant)
(2 Points)
Replied 05 September 2022
Sir,
Please guide me, whether the sale of Liquor License comes under Capital Gain if so, how to calculate the capital for receipt of consideration for sale of Liquor License under Income Tax Act.
Adv. Ravish Bhatt, ADIT, CIOT
(Dual Qualified Lawyer/ Solicitor International Tax Affiliate CIOT)
(1110 Points)
Replied 05 September 2022
HI there,
As stated above, liquor license is not transferable. In essence, a license is some right granted by the government based on information and documents submitted by licensee and it is a government property as such.
Whether and what sort of tax will be imposed, if sale had been possible becomes moot therefore.
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