Bonus Share recd. taxability as per income tax
This query is : Resolved
06 March 2011
I want to ask you about taxibility of Bonus share recd. above Rs. 50000 under income tax act 1961,
I read " as per section 56 "any Property ( Share and Securities) recd. without consideration , the Aggregate FMV of Which exceeds Rs. 50000 from every person, then the whole of the aggreage FMV will be taxable for Reciever.
So suggest me that Is it taxable under sec. 56 or not
I read " as per section 56 "any Property ( Share and Securities) recd. without consideration , the Aggregate FMV of Which exceeds Rs. 50000 from every person, then the whole of the aggreage FMV will be taxable for Reciever.
So suggest me that Is it taxable under sec. 56 or not
06 March 2011
In case underlying shares are held as stock in trade, Section 56(2)(vii) is not attracted.
In other cases it will be treated as income on the basis of market value where aggregate market value of all such shares received under bonus issues exceeds Rs. 50000/-.
In other cases it will be treated as income on the basis of market value where aggregate market value of all such shares received under bonus issues exceeds Rs. 50000/-.
27 June 2011
Thankyou paras
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Supply through E-commerce Operators
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- Relief u/s Section 89
- Sales return eway bill
- GST Rate applicable for 0% Food Items sold by an Industrial Caterer
- Loan by Partnership Firm
- Is it compulsory to File 10E if Income including Pension Arrears is below 12 Lakh for the F Y 25 26
- SALE BILL AGAINST GOODS RETURN
- Is E Way Bill Valid If Transport ID Not Mentioned in PART A But Vehicle details mentioned in PART B
- E way bill for tractors
- Specified Profession
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- STCG....................................................
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
