Need answer of this question

[mrsherazi786]

In my 1 interview following question was asked about which i was not able to answer?

A Company (ABC) had made one of its department as a complete new company (MNO). Now I want to know how to transfer all Fixed Assets esp about VEHICLES from ABC to MNO also tell me about Loan transfer?
Tell me in detail including its TAX Implication.

[pri_farhan@hotmail.com]

Well,

All the assest and liabilities of ABC will be transfered to MNO's book only against purchase consideration and it has no concern will the tax of ABC. you can take only liability such that .

Farhan

[mrsherazi786]

OK Thanks for Reply.

Can you Plese tell me tax implication regarding MNO.

<blockquote id="quote"><font size="1" face="Verdana, Tahoma, Arial" id="quote">quote<hr height="1" noshade id="quote"><i>Originally posted by pri_farhan@hotmail.com</i>
<br />Well,

All the assest and liabilities of ABC will be transfered to MNO's book only against purchase consideration and it has no concern will the tax of ABC. you can take only liability such that .

Farhan
<hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">