Amendments
This query is : Resolved
26 October 2013
I have doubts in amendment of section 56(2)(viib) and related so is there any example for that ?
26 October 2013
Dear Hima,
For example, if for a private limited company, if the fair value per share is Rs 100. And the shares are issued at Rs 120 per share. Then Rs 20 per share shall be considered as income from other sources.
The fair value for this purpose needs to be computed as per Rule 11U and 11UA of the Income-tax Rules, 1962.
For example, if for a private limited company, if the fair value per share is Rs 100. And the shares are issued at Rs 120 per share. Then Rs 20 per share shall be considered as income from other sources.
The fair value for this purpose needs to be computed as per Rule 11U and 11UA of the Income-tax Rules, 1962.
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