Capital Gains Tax: Shareholders' Liability Must Be Proportional to Shareholding, No Deductions Allowed for Transfer Expenses.

Computation of capital gains - Expenditure incurred in connection with transfer of shares - the entire tax liability of the companies cannot be fastened on a single shareholder. If at all the tax liability of private limited company is to be borne by shareholders, it has to be borne equally in the ratio of shares held - No deduction - AT .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X