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Incometax

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Querist : Anonymous

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Querist : Anonymous (Querist)
16 April 2012 Pvt. Ltd. Company had sold the 5% stake of the company to an Indian Resident. Company has collected share premium while selling the stake of the company. Whether share premium collected by a company is taxable ? If yes, then how the taxability be determined?

Also, consider the above query with NRI?
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CA Prashant Gupta

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CA Prashant Gupta (Expert)
16 April 2012 Share premium is not taxable in income tax in hands of company.

If a person takes a stake in newly incorporated company as a promoter then no tax liablity arise in hand of company.

Incase of sale of share by a shareholder to another person capital gain arise in hands of seller.
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