Liquidation of Pvt. Limited company

2399 views 4 replies

Ther is one private company and wants to liquidate.The company had in its name the lots of capital assets. It had two directors.

My question is the directors wants to transfer the capital assets of the company in the their names in a way that tax liability of the company or directors should be minimum

and how they will transfer?  

Replies (4)
No, they can not transfer the capital assets by avoiding tax liabilities. If they are doing so, this is clear tax avoidence and they are liable to penalize as per the IT Act.
I totally agree with Maheshwari Sir, It is not possible.
It can be possible by ways of transferring assets to the different company & change directors,thereby you may do tax planning.
The Capital Assets cannot be transfered in the names of the directors

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