Articles by Gursimaran Singh Rakhroy
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Taxability of Share premium under Section 56(2)(viib)
Gursimaran Singh Rakhroy 27 July 2021 at 09:07Section 56(2)(viib) was introduced to deter the use of unaccounted money done through subscription of shares of a closely held company, at a value that is higher than the FMV of the shares of such a company.
Interest earned out of share application is adjustable towards share issue expenditure
Gursimaran Singh Rakhroy 27 July 2021 at 09:07The issue with respect to the tax treatment of interest earned out of the share application money deposited with a bank due to a statutory requirement has been a matter of debate before the Courts.
Taxation of Cryptocurrencies
Gursimaran Singh Rakhroy 27 July 2021 at 09:07The current dilemma faced by the government authorities is to come up with an efficient way of taxing cryptocurrencies, which in turn puts the crypto investor community in a jeopardy.
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