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transfer of capital asset
What is relinquishment of assets
Replies (2)
Equivalent to giving up rights in the asset to co-owner or co-beneficiary.
the term relinquishment generally refers to abandonment of any right therein..
for example...
Mr X is shareholder of abc ltd and the company issue 1000 right shares to him...
now Mr X has a right to buy shares..
but if he sell his right therein to somebody else then....
such sale of right is known as relinquishment of right..
for example...
Mr X is shareholder of abc ltd and the company issue 1000 right shares to him...
now Mr X has a right to buy shares..
but if he sell his right therein to somebody else then....
such sale of right is known as relinquishment of right..
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