Query: income tax on transfer of business of pvt ltd

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

05 December 2014 Dear All,

I have a Query regarding sale of business of Pvt ltd, where all the shares of the promoters will be transferred.

What will be Income tax Treatment and calculations?

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
Follow

06 December 2014 1. Capital gain will arise in the hands of the promoters on transfer of shares.

2. If the period of holding is 12 months or more, then Long Term Capital Gain (LTCG) will arise.

3. If the period of holding is less than 12 months then short term capital gain (STCG) will arise.

4. In case of LTCG indexation benefit is available.

5. LTCG is taxable @ 20% and STCG is taxable at normal slab rates.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

Rampal Saini

Vijay Mishra

SUBHASH SAHA

Vinod Dharwarkar

R Prabhudoss

Subscribe Now

Query: income tax on transfer of business of pvt ltd

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

GST CONSULTANCY

GST CONSULTANT

Manager- Finance and Compliance

Senior Executive

CA Final

Accountant