Sale consideration
This query is : Resolved
Afsar Ahmed
(Querist)
06 December 2011
one of my client is a pvt ltd company and is willing to reconstruct the share holding pattern by transferring 200 shares for a shareholder to a different shareholder and in consideration a portion of land in the books of the Company would be given by the company
to the shareholder surrendering 200 shares...please discuss the impact of this transaction in the light of income tax act and companies act.....please reply.
to the shareholder surrendering 200 shares...please discuss the impact of this transaction in the light of income tax act and companies act.....please reply.
CA PARAS BAFNA
(Expert)
06 December 2011
I think, this is an imaginary question as it seems quite absurd when it is told that company surrenders asset for the benefit of a new shareholder that too without receiving any benefit.
.
Further the new shareholder receive the shares for no consideration, at the cost of the company.
.
Afsar bhai- What benefit the company is going to get ????
.
Further the new shareholder receive the shares for no consideration, at the cost of the company.
.
Afsar bhai- What benefit the company is going to get ????
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
- Query on effect of registration of property
- GST on reimbursement of expenses
- Due date for filing return for the partner in partnership subjected to Tax Audit
- Visiting card purchase
- Goodwill transfer of deceased father’s firm – ICAI applying a 27.04.2026 cut-off to the 3 year limit
- Number of years as per AS amortisation of Goodwill
- Wrong CMPo8 file
- Whether output tax is taken credit by purchaser
- Additional trade name
- Equity Share Sale and Purchase
- Classification of income of P Ltd company as business or profession
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
