A person bought a property 5 years back for RS 25 lacs however the registration value for the same is only Rs 5 lacs due to stamp and taxation purpose, now he wants to transfer his property to his private limited company for Rs 1 crore.
can he transfer at this amount or he has to follow any market price rules if any prelevant ?
If yes What's tax effects of the same on him.
Also tell me if it was transfer to a public limited company.
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Transfer of immovable property to private company
Replies (2)
yes he can trnasfer.... Capital Gain tax will attract in this case
Isn't capital gain exempt u/s 47 (xIV). What are ur views?
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