TaxTMI 
TaxTMI 
Shares of closely held public limited company are transferred at fmv . But the consideration i.e amount payable is pending.But SH 4 signed by both parties.Whether any default under income tax or companies act
TRF of shares
10 Dec 2017 
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Share transfer at fair market value raises whether unpaid consideration constitutes default under tax or company law.
Transfer of shares in a closely held public limited company at fair market value with consideration unpaid despite executed Form SH-4 raises whether such facts constitute default under income-tax law or the Companies Act, focusing on the legal effect of a signed share transfer instrument where payment remains pending and the attendant tax and company-law compliance obligations. (AI Summary)
Transfer of shares in a closely held public limited company at fair market value with consideration unpaid despite executed Form SH-4 raises whether such facts constitute default under income-tax law or the Companies Act, focusing on the legal effect of a signed share transfer instrument where payment remains pending and the attendant tax and company-law compliance obligations. (AI Summary)