as per sec2(47) of capital gains, if a company transfers its capital assets to a 100% subsidiary there shall be no capital gains tax. but how can there be a 100% subsidiary? there must be a minimum of 2 or 7 members for private or public company respectively. for a company to be 100% subsidiary, all of the share capital must be held by one person only
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Read the defination of Person
hey i got the answer. my tax madam gave me this have a look at this
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