A and B are brothers and holds 50:50 % shares in private limited having accumulated profit of 50Lacs .
now A want to resign trf his shares to his wife and want 25L profit from company so, 1)if company pays him 25L will they have to Deduct TDS on it 2) after receiving 25L what income is this for A is it capital Gain or Profit??
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transfer share to existing shareholder in closely held company
Replies (3)
if he transfers share to his wife then why should he want 25 lakhs from company?
because company is having accumulated profit he wants his share of profit
he may be a director but he's just a employee in the perspective of company. he cannot claim accumulated peofits
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