Capital gain on sale of proprietorship to company (pvt ltd )
This query is : Resolved
Mahendra hegde
(Querist)
20 February 2019
WE HAVE ONE PROPRIETORSHIP BUSINESS NAMELY A. WHICH HAS TAKEN BY ONE COMPANY (NAMELY B PVT LTD ) IN THAT B LTD "A" HAS HOLDING 48% OF SHARES .
IS THERE ANY CAPITAL GAIN ARISING OF PROPRIETOR FOR SELLING THE BUSINESS .
KINDLY CLARIFY
THANKS IN ADVANCE
IS THERE ANY CAPITAL GAIN ARISING OF PROPRIETOR FOR SELLING THE BUSINESS .
KINDLY CLARIFY
THANKS IN ADVANCE
VIJAY KUMAR
(Expert)
21 February 2019
A must hold 50% of shares for 5 years from the date of succession apart from other fulfilling other conditions.
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