Capital gains very urgent

529 views 2 replies
A pvt co. is involved in Trading business. It deals in real estate and properties.


It has acquired a factory for 1 Crore in 2010-11 and wants to sell it for around 20 Crore.


 My Questions -
 1) I want to know what capital gains tax it will attract? and also if there are any ways to save this capital gains TAX...??

also 2) during the said period it has under gone change in shareholders. One old holder has left and 12 new holders have entered. WIll this transaction also attract capital gains tax on transfer of shares to this PVT LTD CO?


 Please note - its a PVT LTD CO Thanks
Dear experts, Please guide me as soon as possible. A pvt co. is involved in Trading business. It deals in real estate and properties. It has acquired a factory for 1 Crore in 2010-11 and wants to sell it for around 20 Crore. My Questions - 1) I want to know what capital gains tax it will attract? and also if there are any ways to save this capital gains TAX...?? also 2) during the said period it has under gone change in shareholders. One old holder has left and 12 new holders have entered. WIll this transaction also attract capital gains tax on transfer of shares to this PVT LTD CO? Please note - its a PVT LTD CO Thanks

Read more at: /experts/experts_display_list_by_category.asp?cat_id=3#.UPKF46x0Y7o
Dear experts, Please guide me as soon as possible. A pvt co. is involved in Trading business. It deals in real estate and properties. It has acquired a factory for 1 Crore in 2010-11 and wants to sell it for around 20 Crore. My Questions - 1) I want to know what capital gains tax it will attract? and also if there are any ways to save this capital gains TAX...?? also 2) during the said period it has under gone change in shareholders. One old holder has left and 12 new holders have entered. WIll this transaction also attract capital gains tax on transfer of shares to this PVT LTD CO? Please note - its a PVT LTD CO Thanks

Read more at: /experts/experts_display_list_by_category.asp?cat_id=3#.UPKF46x0Y7o
Dear experts, Please guide me as soon as possible. A pvt co. is involved in Trading business. It deals in real estate and properties. It has acquired a factory for 1 Crore in 2010-11 and wants to sell it for around 20 Crore. My Questions - 1) I want to know what capital gains tax it will attract? and also if there are any ways to save this capital gains TAX...?? also 2) during the said period it has under gone change in shareholders. One old holder has left and 12 new holders have entered. WIll this transaction also attract capital gains tax on transfer of shares to this PVT LTD CO? Please note - its a PVT LTD CO Thanks

Read more at: /experts/experts_display_list_by_category.asp?cat_id=3#.UPKF46x0Y7o
Dear experts, Please guide me as soon as possible. A pvt co. is involved in Trading business. It deals in real estate and properties. It has acquired a factory for 1 Crore in 2010-11 and wants to sell it for around 20 Crore. My Questions - 1) I want to know what capital gains tax it will attract? and also if there are any ways to save this capital gains TAX...?? also 2) during the said period it has under gone change in shareholders. One old holder has left and 12 new holders have entered. WIll this transaction also attract capital gains tax on transfer of shares to this PVT LTD CO? Please note - its a PVT LTD CO Thanks

Read more at: /experts/experts_display_list_by_category.asp?cat_id=3#.UPKF46x0Y7o
Dear experts, Please guide me as soon as possible. A pvt co. is involved in Trading business. It deals in real estate and properties. It has acquired a factory for 1 Crore in 2010-11 and wants to sell it for around 20 Crore. My Questions - 1) I want to know what capital gains tax it will attract? and also if there are any ways to save this capital gains TAX...?? also 2) during the said period it has under gone change in shareholders. One old holder has left and 12 new holders have entered. WIll this transaction also attract capital gains tax on transfer of shares to this PVT LTD CO? Please note - its a PVT LTD CO Thanks

Read more at: /experts/experts_display_list_by_category.asp?cat_id=3#.UPKF46x0Y7o
Dear experts, Please guide me as soon as possible. A pvt co. is involved in Trading business. It deals in real estate and properties. It has acquired a factory for 1 Crore in 2010-11 and wants to sell it for around 20 Crore. My Questions - 1) I want to know what capital gains tax it will attract? and also if there are any ways to save this capital gains TAX...?? also 2) during the said period it has under gone change in shareholders. One old holder has left and 12 new holders have entered. WIll this transaction also attract capital gains tax on transfer of shares to this PVT LTD CO? Please note - its a PVT LTD CO Thanks

Read more at: /experts/experts_display_list_by_category.asp?cat_id=3#.UPKF46x0Y7o
Dear experts, Please guide me as soon as possible. A pvt co. is involved in Trading business. It deals in real estate and properties. It has acquired a factory for 1 Crore in 2010-11 and wants to sell it for around 20 Crore. My Questions - 1) I want to know what capital gains tax it will attract? and also if there are any ways to save this capital gains TAX...?? also 2) during the said period it has under gone change in shareholders. One old holder has left and 12 new holders have entered. WIll this transaction also attract capital gains tax on transfer of shares to this PVT LTD CO? Please note - its a PVT LTD CO Thanks

Read more at: /experts/experts_display_list_by_category.asp?cat_id=3#.UPKF46x0Y7o
Dear experts, Please guide me as soon as possible. A pvt co. is involved in Trading business. It deals in real estate and properties. It has acquired a factory for 1 Crore in 2010-11 and wants to sell it for around 20 Crore. My Questions - 1) I want to know what capital gains tax it will attract? and also if there are any ways to save this capital gains TAX...?? also 2) during the said period it has under gone change in shareholders. One old holder has left and 12 new holders have entered. WIll this transaction also attract capital gains tax on transfer of shares to this PVT LTD CO? Please note - its a PVT LTD CO Thanks

Read more at: /experts/experts_display_list_by_category.asp?cat_id=3#.UPKF46x0Y7o
Dear experts, Please guide me as soon as possible. A pvt co. is involved in Trading business. It deals in real estate and properties. It has acquired a factory for 1 Crore in 2010-11 and wants to sell it for around 20 Crore. My Questions - 1) I want to know what capital gains tax it will attract? and also if there are any ways to save this capital gains TAX...?? also 2) during the said period it has under gone change in shareholders. One old holder has left and 12 new holders have entered. WIll this transaction also attract capital gains tax on transfer of shares to this PVT LTD CO? Please note - its a PVT LTD CO Thanks

Read more at: /experts/experts_display_list_by_category.asp?cat_id=3#.UPKF46x0Y7o
Dear experts, Please guide me as soon as possible. A pvt co. is involved in Trading business. It deals in real estate and properties. It has acquired a factory for 1 Crore in 2010-11 and wants to sell it for around 20 Crore. My Questions - 1) I want to know what capital gains tax it will attract? and also if there are any ways to save this capital gains TAX...?? also 2) during the said period it has under gone change in shareholders. One old holder has left and 12 new holders have entered. WIll this transaction also attract capital gains tax on transfer of shares to this PVT LTD CO? Please note - its a PVT LTD CO Thanks

Read more at: /experts/experts_display_list_by_category.asp?cat_id=3#.UPKF46x0Y7o
Dear experts, Please guide me as soon as possible. A pvt co. is involved in Trading business. It deals in real estate and properties. It has acquired a factory for 1 Crore in 2010-11 and wants to sell it for around 20 Crore. My Questions - 1) I want to know what capital gains tax it will attract? and also if there are any ways to save this capital gains TAX...?? also 2) during the said period it has under gone change in shareholders. One old holder has left and 12 new holders have entered. WIll this transaction also attract capital gains tax on transfer of shares to this PVT LTD CO? Please note - its a PVT LTD CO Thanks

Read more at: /experts/experts_display_list_by_category.asp?cat_id=3#.UPKF46x0Y7o
Dear experts, Please guide me as soon as possible. A pvt co. is involved in Trading business. It deals in real estate and properties. It has acquired a factory for 1 Crore in 2010-11 and wants to sell it for around 20 Crore. My Questions - 1) I want to know what capital gains tax it will attract? and also if there are any ways to save this capital gains TAX...?? also 2) during the said period it has under gone change in shareholders. One old holder has left and 12 new holders have entered. WIll this transaction also attract capital gains tax on transfer of shares to this PVT LTD CO? Please note - its a PVT LTD CO Thanks

Read more at: /experts/experts_display_list_by_category.asp?cat_id=3#.UPKF46x0Y7o

A pvt co. is involved in Trading business.

 

It deals in real estate and properties.

 

It has acquired a factory for 1 Crore in 2010-11 and wants to sell it for around 20 Crore.

 

My Questions -

 

1) if there are any ways to save this capital gains TAX...??

 

also

 

2) during the said period it has under gone change in shareholders. One old holder has left and 12 new holders have entered. WIll this transaction also attract capital gains tax on transfer of shares to this PVT LTD CO?

 

 

Please note - its a PVT LTD CO Thanks

Replies (2)

1) As per the given facts, the Private Limited Co. is involved in the Business of Real Estate and hence it has sold a Factory which was purchased earlier in 2010-11. Therefore, the Income shall be taxed under the head Income from Business and the prescribed rate of Tax shall be applicable to the Private Limited Co.

 

2) As per my knowledge, there will be no effect of the change of the pattern of Share holders on the Taxation part in the Private Limited Co. [ie. No Capital Gain arises]

 

 

Regards,

Devendra Kulkarni

Originally posted by : Devendra

1) As per the given facts, the Private Limited Co. is involved in the Business of Real Estate and hence it has sold a Factory which was purchased earlier in 2010-11. Therefore, the Income shall be taxed under the head Income from Business and the prescribed rate of Tax shall be applicable to the Private Limited Co.

 

2) As per my knowledge, there will be no effect of the change of the pattern of Share holders on the Taxation part in the Private Limited Co. [ie. No Capital Gain arises]

 

 

Regards,

Devendra Kulkarni

the company mentioned the factory under capital work in progress... in last years balance sheet....

does this make it a capital asset ?

it is not treating it a stock in trade
 

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