Capital Gain

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SHREYANSH B SHAH (Querist)
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21 May 2011 Hi Expert, Can u Please give me effect on following problem:

If one Private Limited Company transfer shares to another private Ltd Company which is Closely Held , What is the effect of this?
Whether it is taxable and where it is constructed as Long term and Shirt term Gain?
And if Private Ltd company which is closely held by an Individual at that time what is the legal effect for that?

CA MANOJ GUPTA

CA MANOJ GUPTA (Expert)
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21 May 2011 SINCE THERE IS TRANSFER INVOLVED HENCE CAPITAL GAIN WOULD ARISE
LONG TERM OR SHORT TERM WOLUD DEPEND UPON PERIOD OF HOLDING
CA MANOJ GUPTA
JODHPUR
09828510543

SHREYANSH B SHAH

SHREYANSH B SHAH (Querist)
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21 May 2011 But whether the period for determining Long Term or Short term as per the Normal Provision i.e. 12 MONTH for shares or any different period ? In which section it would be taxable? Whether any deduction is allowable in that case?

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