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..
Vaibhav (student) (68 Points)
21 October 2013A 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..
Mihir
(Wealth Manager)
(5293 Points)
Replied 21 October 2013
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.
*RENU SINGH *
(✩ §m!ℓ!ñġ €ม€§ fℓม!ñġ ђ♪gђ✩ )
(21627 Points)
Replied 22 October 2013
CG would arise without a doubt even after voluntary winding up.
Komal Sharma
(Assistant Accountant)
(1887 Points)
Replied 22 October 2013
Nope, Capital Gain would arise..
Agree with Renu Ji...
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