Please tell me that if i want to conduct transfer of shares of a private company what matters should i consider while transfer like net worth of a company should be calculated on the date of transfer for amount at which it should be transferred?
3 Replies
Harsh
(Finance)
(55 Points)
Replied 27 December 2011
If you want to transfer the shares to someone else then you must know the value of it. You can make this transfer by using assets transfer documents. But for submitting this documents you will need to have a share certificate. Amount of that share will be considered which it holds currently. If any charges are applicable then it will depend on that particular company.
CA Mohit Agrawal
(Chartered Accountant)
(371 Points)
Replied 27 December 2011
I mean that should i calculate the net worth of company so that income tax u/s 56(2)(vii) is not attracted and also the procedure to be performed as per companies act
CA Ketan Waghela
(Partner at Elite Educare)
(356 Points)
Replied 27 December 2011
Mohit ji,
Yes, you need to calculate the net worth of that company before transfering the sahres in order to avoid sec 56 (2) (vii).
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