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Capital gain

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(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
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Anil Sankar V

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Anil Sankar V (Expert)
12 July 2013 not applicable, if partnership firm consider the value of asset according to document value.
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Ajit Singh

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Ajit Singh (Querist)
12 July 2013 Then whether stamp duty is applicable on such transfer of land from subcriber to Company
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Anil Sankar V

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Anil Sankar V (Expert)
12 July 2013 stamp duty would be applicable, but no CG
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