TaxTMI Login
Just a moment...
By creating an account you can:
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All TMI Notes
of of All TMI Notes
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>2025 Bill and Section 46 of Income-tax Act: Clarifying Capital Gains Tax on Liquidation Asset Distributions</h1> Clause 68 of the Income Tax Bill, 2025, and Section 46 of the Income-tax Act, 1961, both address the taxation of capital gains from asset distribution by companies in liquidation. These provisions clarify that such distributions are not transfers but returns of capital, ensuring shareholders are taxed on actual economic gains while avoiding double taxation. Both provisions require shareholders to pay capital gains tax on the market value of received assets, minus any amounts considered dividends. The main difference lies in the sections referenced for calculating gains, indicating potential restructuring in the 2025 Bill, but the core tax principles remain consistent.
TaxTMI 
TaxTMI 