its most urgent---capital gain

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Querist : Anonymous

Querist : Anonymous (Querist)

27 May 2015 If proprieter is selling his business to new pvt concern and he is himself one of
director
as per capital gain sec 47 (xiv) he is not complying condition and getting only 25% share in new pvt concern

then in this situation how to calculate capital gain

Nikhil Kaushik

Nikhil Kaushik (Expert)
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27 May 2015 simple, calculate the net costs of assets transferred. the difference between this cost and the value at which they have been transferred will be capital gain/loss

Querist : Anonymous

Querist : Anonymous (Querist)

27 May 2015 If person has received consideration 2.30 crores (including goodwill) and Fixed assets value is 1 lacs .

not having detail regarding transfer value of assets

lumsum consideration is 2.30 crores

then how calculate...

Nikhil Kaushik

Nikhil Kaushik (Expert)
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27 May 2015 the whole of it is capital gains less 1 lac rupees!

Querist : Anonymous

Querist : Anonymous (Querist)

27 May 2015 Sorry sir,Liability also exists Rs. 135 Lacs

kindly guide me

Querist : Anonymous

Querist : Anonymous (Querist)

27 May 2015 Sorry sir,Liability also exists Rs. 135 Lacs

kindly guide me

Nikhil Kaushik

Nikhil Kaushik (Expert)
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27 May 2015 that makes matters only worse for you. kindly do some research on slump sales...