If unlisted share is sold at price below than the FMV calculated on the basis of income tax provisions & the seller paid the LTCG on the basis of FMV but the deal is executed at price below than the FMV. is there any tax liability on the part of purchaser also?
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Sale of unlisted share
Replies (3)
Is it greater than cost of accquistion?
Yes, if the differential amount is Rs. 50,000/- or more...
Yes if he purchases at amount lower than FMV then it will be taxable as gift in his hand
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