Tranfer of shares

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This query is : Resolved

Ajay Agarwal (Querist)

04 August 2015 Please guide us on the following matter in case of transfer of shares in Private Limited Company.

Case 1
For Ex.
Ram purchased 5000 shares of ABC Private Ltd. @ Rs.10 total amounting Rs. 50000
Now the net worth of company per share is Rs. 70
If Ram sold 715 shares @ Rs. 70 to Shyam total amounting Rs. 50000, whether income under head capital gain is applicable to Ram?

Case 2

Whether income under head capital gain is applicable to him if he sold shares of ABC Private Ltd. to Mohan, Sohan and many other people also upto Rs. 50000 each?

Case 3

Whether income under head capital gain is applicable to Ram if he sold shares value upto Rs. 50000 of ABC Pvt. Ltd, XYZ Pvt. Ltd and shares of other companies also to different persons.

Case-4

To whom shares can be transferred :
a) Relative
B) Non- Relative

Case-5

In a particular financial year Rs. 50000 non taxable value is applicable for a single transfer of a single company or else stated above.

Amol S Joglekar

Amol S Joglekar (Expert)

04 August 2015 Section 56 (2)(vii) (c) any property, other than immovable property,—

(ii) for a consideration which is less than the aggregate fair market value of the property by an amount exceeding fifty thousand rupees, the aggregate fair market value of such property as exceeds such consideration :

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