07 May 2013
the assessee is an NRI started a 8 companies to purchase a 110 acres of land with an intention to start a metal crushing unit for an amount of 5 crores. Now asessee obtained a licence for metal crushing unit but now he got a good offer for out purchse of his shares in the comapany the entire shares in 8 companies should be transferd and the long term capital gain comes around 10 crores. THE PURCHASER COMPANY IS A FOREIGN COMPANY. pls advise me about the tax planing on capital gains tax.
CAclubindia
