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Private limited company sale

This query is : Resolved 

27 September 2022 Dear sir - one of my client having authorised capital of 2 crores.. And three directors have paid up capital of 50 lakhs each to 1.5 crores.. Another company wanted to take over complete assets and liability and pay extra 5 crores.. What will be income tax liability... Kind regards

28 September 2022 Capital gains tax applicable.
Indexation applicable on long term capital gains on assets not depreciated.
Short term capital gains tax applicable on other assets.

Sale of the shares of the company 20% long term capital gains applicable with indexation. This is beneficial.

28 September 2022 Dear Sir - Therefore all taxation will have to be borne by shareholders...? Please clarify.. Kind regardd

28 September 2022 Yes, in such a case only 20% long term capital gains tax payable with indexation by the shareholders.

28 September 2022 Thanks for your all guidance... Regards

28 September 2022 you are welcome................



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