
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

Personal Income Tax

Ameet Patel Ameet N Patel is a chartered accountant and former President of Bombay Chartered Accountants Society - BCAS

Subodh V Shah CA Subodh V Shah is a Fellow Member of the ICAI. A merit ranker throughout his career, he stood 3rd in CA Intermediate and 17th in CA Final. In addition he also got the prize of ICAI for scoring the highest marks in Direct Taxes at CA Final. He is practicing Chartered Accountant as well as a teacher for over 20 years.

Ameya Kunte Ameya Kunte is a Tax Professional, Chartered Accountant & Co-founder - Taxsutra.com

Nikhil Vadia CISA qualified Nikhil Vadia is a Chartered Accountant in practice since 1997

Yogesh Sapkale Yogesh Sapkale is Deputy Editor of Moneylife and writes on financial and tax related issues

Debashis Basu Debashis Basu is the co-founder of Moneylife, a CA by qualification with three decades of experience as a journalist and author of several books
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