06 December 2011
one of my client is a pvt ltd company and is willing to reconstruct the share holding pattern by transferring 200 shares for a shareholder to a different shareholder and in consideration a portion of land in the books of the Company would be given by the company to the shareholder surrendering 200 shares...please discuss the impact of this transaction in the light of income tax act and companies act.....please reply.
06 December 2011
I think, this is an imaginary question as it seems quite absurd when it is told that company surrenders asset for the benefit of a new shareholder that too without receiving any benefit. . Further the new shareholder receive the shares for no consideration, at the cost of the company. . Afsar bhai- What benefit the company is going to get ????
CAclubindia
