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Transfer of share in private company

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Querist : Anonymous

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Querist : Anonymous (Querist)
26 March 2012 Dear all,
Please guide me for the following query-
Shares are originally issued at Rs. 500 (face value 100).now we want to transfer shares in the name of the director at Rs. 100.
what will be the tax treatment in the hands of director of the company & transferor?
Any problem in IT act to any of them?
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CA Siddhartha Bhardwaj

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CA Siddhartha Bhardwaj (Expert)
28 March 2012 A capital loss of Rs. 400 will arise in the hands of the transferor shareholder.

This loss will be long term or short term depending on the period of holding.

Short term capital loss can be set off against LTCG or STCG.

long term capital loss can be set off only against LTCG.

The cost of acquisition for the director shall be Rs. 100.
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