Markets
BSE See NSE See 44,149.72
-110.02 (-0.25%)
Tax Column

Tax Column

Print

Jayesh Dadia 
Chartered Accountant 

I had, as an individual, invested Rs 1 crore as share capital in ABC (P) Ltd. in 2001. Three years ago, ABC went into liquidation and in the current financial year the company has been wound up by an order of NCLT. On winding up, I received Rs 1.5 crore, being the surplus left after payment of all the liabilities. What I want to know is whether the amount received is now taxable and if yes, under which head should it be calculated and how?

To read the entire article, you must be a DSIJ magazine subscriber.

 

Comments are only visible to subscribers.

DSIJ Mindshare

12345Last