Income tax
Mansi S
(Querist) 18 December 2014
This query is : Resolved
Hello,
Mr. A will purchase majority shares of a private company M/s. INVEST Pvt Ltd. who's main object is to investment in other listed & unlisted companies.
Please provide some guidance on the tax implications in the hands of existing promoters of INVEST Pvt ltd & Mr A.
Please specifically shed some light on Sec: 56(2)(vii) r.w. rule 11UA.
The FMV will be the FMV of INVEST PVT LTD or of summation individual investments made by INVEST Pvt ltd?
Thanks for your time & consideration.
Devajyoti Barman
(Expert) 18 December 2014
Meet a tax professional or post in caclubindia.
R.K Nanda
(Expert) 18 December 2014
consult tax lawyer.
T. Kalaiselvan, Advocate
(Expert) 25 December 2014
A query fit to be posted in CA club or can be enquired from a tax consultant.
