Capital gain tax of company under liquidation

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Querist : Anonymous

Querist : Anonymous (Querist)

25 June 2013 A company under liquidation has property at cost price stated in books at 1.20 crs. It sells the property at 1.60 crs. On this transaction it may have to pay capital gain tax and then the available proceeds can be distributed to equity stake holder after settling the other liabilities.can this capital gain can be saved? since it cannot invest in bonds u/s 54EC as it is going to be wound up.

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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25 June 2013 The company if has b/f capital losses then only it may save tax by set off of such losses, otherwise, practically it is not having any chances to save Capital gains Tax.