Please FIRST provide your view whether it is to be treated as SALE or EXCHANGE ., If it is a case of Exchange then what should be the cost of acquisition --Rs. 10/ or Rs.100/- per share?? And in case of Exchange what should be the full value of consideration.( probably it should be Registered value of Land exchanged , please correct me If I am wrong)
On Friday, 27 December 2013 10:27 PM, bkchavda1672 <bkchavda1672@yahoo.co.in> wrote:
As per me sale consideration is 1.89 crore .20 is as per 50C
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-------- Original message --------
From: sjmrng29@yahoo.co.in
Date: 27/12/2013 7:54 PM (GMT+05:30)
To: aaykarbhavan@yahoogroups.com
Subject: [aaykarbhavan] Query regarding Capital Gain relating to Exchange of Property
My client WAS a promoter of a Pvt ltd. Co. and was holding 75% share( 2lac share) , fair market value is Rs.100/- per share and Face value Rs.10/-per share , This year he transferred 1.80 lac share to Mr. X. , fair market value of which is 1.80 cr. But Mr.X gave him land , registered value of the land is 2 crore. , no transaction of cash taken place ,--Now my question is --------
(1) Can this transfer be considered as EXCHANGE for capital gain tax ? If so what will be the cost of acquisition and Value of sale consideration ?
(2) If it can not be considered as EXCHANGE then What will be the cost of acquisition and Value of sale consideration ?
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