Hello,
Mr.Z has a property (site) and also holds shares(worth 100 lakhs) in a private company of which he is a director.
The company is not running any more.
If he transfers his shares to Mr.X for a very nominal amount ( say 1 lakh wiz the book value of his shares as on date of transfer) i.e. for a loss can he set off the loss with the capital gain he gets when he sells the property.
Please advice.
CAclubindia
