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Deemed income

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(Querist)
01 November 2013 if a company purchased shares in 10rs but the date of balance sheet fmv of that company is 15 rs ,balance 5 rs is deemed income of the hands of shareholders?
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CA UMESH DULAL

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CA UMESH DULAL (Expert)
01 November 2013 No, unrealised gain should not be recognized as deemed income
investment should be valued at cost or market value whichever is less
so the purchase price should be the value of investment
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