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Sec. 56(2)(viib) (Income Tax)

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This query is : Resolved

Author : Anonymous

( Author )
21 May 2012

Could somebody help me in understanding the amendment to the proposal made for Sec 56(2)(viib)in the Union Budget. Thanks in advance.


Siddhartha Bhardwaj

( Expert )
24 May 2012

Let us suppose the fair value of the share of a PRIVATE COMPANY is Rs. 100.

The company issues shares @ Rs. 300.

Rs. 200 per share shall be deemed to be the income of the company u/s 56(2)(viib).


Author : Anonymous

( Author )
25 May 2012

Thanks a lot Sir. One thing I would like to understand is that if there is a newly established private company, can't it issue shares at premium. Is there any relief for such newly formed private companies?


Siddhartha Bhardwaj

( Expert )
25 May 2012

There is no relief for private limited companies.


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