A land is in the name of Pvt. Ltd. Co. and the directors want to liquidate the Co. . Can the land which is in the name of the Co. can be TRANSFERED to the directors/Shareholders without capital gain if there is no liability/creditors of the Co..
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Transfer of property
Replies (3)
If there are no liabilities, the company can pass a special resolution to wind up the company and inform the ROC. I think director should be able to buy the land at a fair market price from the company after passing a resolution to sell the land.
CG would arise without a doubt even after voluntary winding up.
Nope, Capital Gain would arise..
Agree with Renu Ji...
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