Section 46 - Capital Gain on Distribution Of Assets By Companies In Liquidation

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... is no "transfer" in such distribution and capital gain is not chargeable in the hands of the company. In case if the liquidator sells the assets of the company resulting in a capital gain, and distributes the funds then the company is liable to pay the tax Section 46(2): Tax Treatment in the hands of Shareholders Where a shareholder receives money or other assets at the time of liquidation of t....