Tax liability of Director after transfer his shares to employee
This query is : Resolved
11 November 2021
Dear Sir\Madam,
I request you to please guide me on the above subject i.e. the Director wants to transfer his shares in the name of his employees in free of cost as he wants to retire from company. So my question is any tax liability arise to the director for transferring his shares to employees under the head of capital gains?
I request you to please guide me on the above subject i.e. the Director wants to transfer his shares in the name of his employees in free of cost as he wants to retire from company. So my question is any tax liability arise to the director for transferring his shares to employees under the head of capital gains?
11 November 2021
The transfer is without any consideration hence tax liability under capital gains will not arise to the director. Such transfer will be considered as gift and if it exceeds Rs 50,000 per employee it's taxable in the hands of employees.
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
- TDS on Purchase of Immovable Property by NRI from NRI
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- Capital gain from sale of house property
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- LC charges in relation to Asset purchased should be Capitalised ?
- FORM 26A APPLICABILITY
- Regarding TDS Applicability For Director Remuneration
- Copyright software
- SFT Cash Deposit in Current Account
- Value of property in capital gain
- Opting our of sec 44AD
- GST Treatment of Insurance Commission for Existing GST Holder
- Cash gift by grand mother to her grand daughter
- 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
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
