The company at present has reserves which are invested in mutual funds
We now wish to voluntarily wind up this company as I am getting old and wish to retire and my son is not interested in running the company. There are no other assets except mutual fund holdings as above and no creditors or liabilities and all IT and RoC filings are up to date
If this company is wound up and I get my share of value of reserves... Will that be treated as long term capital gain or will get added to my income of current year. How much of the reserves will go to pay taxes before coming g in to shareholders hands after winding up
Please help me on above. I would be really grateful to you.
Personal Income Tax
I am running a business for computer repairs and services in my free time and I am working in a pvt ltd company also. These many days i was filing ITR V now as i am also getting income from business want to know which ITR should be filed. Below are my income details
Income from Business: 75,000
Income from Salary : 290,000 Personal Income Tax
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