as per sec 2(47) of capital gains, transfer of a capital asset to a 100% subsidiary is exempt from tax. But how can there be a 100% subsidiary? there must at least 2 (or) 7 members in a company. so how can a company avail this exemption?
thanks in advance if you reply to it
100% subsidiary does not mean 100% shareholding....It means 100% control over the management......
Hope this will solve ur confusion.....
hey the answer for that question is here my tax madam has given this
here is the answer
MANUJ SHARMA AND COMPANY
Noida
CA Inter
View Details
Getmyca Consultant Pvt Ltd
New Delhi
CA Inter
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CCI
Pro
CAclubindia
