https://www.taxtmi.com/acts?id=49066 Distributions on liquidation are not regarded as a transfer by the company for purposes of section 67. A shareholder who receives money or other assets on liquidation is chargeable to income-tax under the head Capital gains on the money received or the market value of other assets on the date of distribution, reduced by the amount assessed as dividend under section 2(40)(c); that net amount is deemed to be the full value of consideration for section 72. en-us Fri, 14 Feb 2025 16:38:23 +0530 Fri, 14 Feb 2025 16:38:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=49066 Distributions on liquidation are not regarded as a transfer by the company for purposes of section 67. A shareholder who receives money or other assets on liquidation is chargeable to income-tax under the head Capital gains on the money received or the market value of other assets on the date of distribution, reduced by the amount assessed as dividend under section 2(40)(c); that net amount is deemed to be the full value of consideration for section 72. Act-Rules Bills Fri, 14 Feb 2025 16:38:23 +0530 https://www.taxtmi.com/acts?id=49066