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

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....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....