Question ID : 1225
Capital gains on transfer of Immovable property to a newly formed company
X & Y own 11 acres of prime property which they transferred to a Company newly formed by them which they are offered cumitivly 51% of the equity of the new company lieu of conration of sale of nd. Is the difference beetween the cost of aquistion of the nd by X & Y & conration offered Shares (FV Rs 10) liable to capital gas tax. The asset is a long term asset. What would be the posistion if the nd was given to the Company on a 99 year lease for which the Company pays the same sum the form of Equity (51%) as a one time payment '
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