capital gain
This query is : Resolved
16 September 2009
MY dear freinds please solve my query supported with the relevant section.
If a properitership concern is transfered to a company, would cap gain will attract & how.
Suppose A is a properiter in A trading Co.and he transfered all the assets and liabilities to the company. now company becomes properiter in that A trading co.In consideration shares are issued to him equilant to his capital account as on the date. now comapany is running the business of thatA trading co. as a going concern. would this attract cap gain. if yes than how.
If a properitership concern is transfered to a company, would cap gain will attract & how.
Suppose A is a properiter in A trading Co.and he transfered all the assets and liabilities to the company. now company becomes properiter in that A trading co.In consideration shares are issued to him equilant to his capital account as on the date. now comapany is running the business of thatA trading co. as a going concern. would this attract cap gain. if yes than how.
16 September 2009
capital gains will not be attracted if conditions of sec 47)xiv) are satisfied.
16 September 2009
SIR, THIS IS NOT THE CASE OF DIRECT TRANSFER, THE COMPANY BECOMES SOLE PROP. IN THE EXISTING BUSINESS AND EXISTING PROP. BECOMES LENDER OR CREDITOR.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- About TDS & Income Tax
- Scrutiny and reopening of past returns
- Pass word to open justification report for Q1 for FY 2026-27
- PPF interest-As Exempt Income disclosure
- Section 194JA & JB Income which ITR Form to use
- Type of Capital Gain
- Booth for sales promotion
- F & O PROFIT REPORTING FOR AY 2026-27
- Grand in aid
- Accounting with Claude
- TDS on Rent received on redevelopment of building
- Tax on Deemed Capital Gain
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Taxation in the hands of Landowner under JDA
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
