We registered a private limited company in Feb 2020 with 10000 shares of 10rs each.We did some negligible business for few months and then covid came.
Now a foreign company wants to buy 10% shares at 7 crore rupees.Basically 70000 rs per share.
Are there any restrictions in IT Act or Companies Act that I can not sell the shares at such a high increase?
My deal will happen after Feb 2022. Can i simply pay capital gain tax of 10% and get done with it or there are some other tax implications?
CAclubindia
