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TMI BlogTransfer of Assets by Private Limited Company to its shareholderX X X X Extracts X X X X X X X X Extracts X X X X ..... Transfer of Assets by Private Limited Company to its shareholder X X X X Extracts X X X X X X X X Extracts X X X X ..... Sir/Madam, My query is with regards to Income Tax & Companies Act. A particular family has a business with 3 brothers of whom all are equal shareholders in a private Limited company. All assets ar ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e registered in the name of Pvt.Ltd. Company. Now 1 of the brother, Mr.A wants to exit the family business and in lieu of exit he needs to relinquish his shareholding in the company. Now Mr.A gets ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... a 2 assets of the company as part of the partition of family business & company runned by family. Now what are the options available to Mr.A to take over & get the 2 assets of the company transferred ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... in his name. This 2 assets, he has received are part of family settlement. Against receipt of these 2 assets, Mr.A will relinquish his shareholding in the company. What are the options available wi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... th Mr.A to ensure that there is nominal tax liability on the company & him after transfer of 2 assets in favor of Mr.A. Reply By DR.MARIAPPAN GOVINDARAJAN: The Reply: Got the advice of Chartered Acc ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ountant. X X X X Extracts X X X X X X X X Extracts X X X X
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