Clubbing
This query is : Resolved
25 May 2014
mrs sita held 12%shares in pvt ltd co.she gifted all shares to her husbans mr ram on 1 oct 2011.on 1 nov 2013 mr ram obtained loan of 60000 from a company when accumulated profit 100000.how it leads to clubbing however asset ie shares are transferred??
25 May 2014
the clubbing is attracted where any income on the asset transferred for less than fair consideration under section 64. since the wife has only gifted the shares, the clubbing will apply.
26 May 2014
clubbing provision not applicable but in hand of shareholder u/s 2(22)(e) it will taxable as deemed dividend and company deducted the tDS 10% u/s 194.
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
- Refund Annexure-B
- GST Reverse
- Nomination of Bank for refund in itr 2
- Section 56(2) of the Income tax Act 1961 , Gift to relative .
- Sale of Equity shares for Purchase of Residential Property
- Liable to deduct tds and 44ADA
- Clarification regarding Import E-way bill transaction type // Regular or Bill from Dispatch From
- Non issue of e way bill
- Gstr7 vs Gstr3b 2026
- Gst return - cess
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- ITC on purchase of commercial property( shop/Godown/offce etc.)
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
