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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 09:07

Section 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.

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Posted in Income Tax |   708 Views


Interest earned out of share application is adjustable towards share issue expenditure

  Gursimaran Singh Rakhroy    27 July 2021 at 09:07

The 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.

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Posted in Income Tax |   204 Views


Taxation of Cryptocurrencies

  Gursimaran Singh Rakhroy    27 July 2021 at 09:07

The 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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Posted in Income Tax |   1035 Views