A family formed a private limited Company around 20 years ago, all the shareholders/directors of the company are the family members of the same family. The company has a property purchased under its name around 20 years ago,Now shareholders wants to liquidate the company but the SDV of the property is very high. Therefore the taxable value is very high (without any flow of money), so please suggest the tax treatment for the same.
One needs to understand the entire transaction in detail. The information supplied is insufficient
For eg. A property was purchased in 1996 for 4 lacs in the name of the company. Now the SDV of the property is 4 crore. The shareholders are the family members.
YOGESH KAPOOR AND ASSOCIATES
New Delhi
B.Com
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R P S K & Associates
Nashik
CA Inter
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