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Capital gain
My client had purchased a private limited company with 100% shares. But company has 1 immovable property worth of 1 crocre. So on this situation whether Capital Gain would arise on such property?
Replies (2)
Since the Immovable property is in companies name, No capital gain will arise.
However all provisions relating to Acquition of company will attract.
thank you sir but there is also one issue that shares are purchased at book value and not at market value
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