Tax implications on issue of bonus shares

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Sonakshi Mangla (Querist)
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28 April 2015 What are the tax implications for a company issuing bonus shares? will it be covered under ambit of distribution tax?

CA MANOJ GUPTA (Expert)
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29 April 2015 NO ITS NOT DIVIDEND 7UNDER SECTION 2(22)

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Sonakshi Mangla (Querist)
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29 April 2015 so it means that there will not be any tax liability on company issuing bonus shares out of security premium?

CA MANOJ GUPTA (Expert)
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29 April 2015 no liability of the company in this regard

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