Capital gain
This query is : Resolved
Ajit Singh
(Querist)
12 July 2013
In case we incorporate new private limited company and one of the subcriber bring his land in the company as capital.Whether it amounts to transfer/sale of land to the company and attracts capital gain tax and whether stamp duty is applicable for the transfer of land to the company
Anil Sankar V
(Expert)
12 July 2013
not applicable, if partnership firm consider the value of asset according to document value.
Ajit Singh
(Querist)
12 July 2013
Then whether stamp duty is applicable on such transfer of land from subcriber to Company
Anil Sankar V
(Expert)
12 July 2013
stamp duty would be applicable, but no CG
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