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Deemed income under capital gain head or not
A private company having property transfer by sale of total share at book value whether these will be any deemed income. Property Value Rs.400Lac and Share Rs.1,00,000
Replies (4)
THE BAOVE TRANSACTION IS COVERED U/S 56 (2) vii. AS PER THE SANCTION THE FAIR MARKET VALUE OF THE SHARES TO BE TRANSFERRED IS TO BE CALCULATED AS PER RULE 11 U AND 11UA. HENCE IN TRANSFER OF SHARE THE VALUATION OF SHARE DOES NOT DEPEND OF MARKET VALUE OF PROPERTY
if Buyer is a related party than same treatment or not
U MEAN RELATIVE OR RELATED PARTY. BUT IN ANY WAY , IN CASE OF RELATIVE , SECTIO 56 (2) VII DOES NOT APPLY
Thank You very much sir
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