purchase of warrants
This query is : Resolved
15 April 2010
Is sec 56(2)(vii) is applicale to indiviual on purchare of warrants convertible into equity shares of a listed company.
15 April 2010
Purchase means consideration is passed from buyer to seller. Section 56 takes care of transacions without/inadequate considertion. So the cited issue is out of the purview of section 56(2)(vii).
15 April 2010
But how to ascertain consideration is aqueduate or not if warrants are infrequently traded. However the book value of equity shares of company is very high. Is there is any method to ascertain fair value.
15 April 2010
But how to ascertain consideration is aqueduate or not if warrants are infrequently traded. However the book value of equity shares of company is very high. Is there is any method to ascertain fair value.
15 April 2010
Notification No. 23/2010 dated 8 April 2010 issued by the CBDT prescribed the rules for determining the FMV, for the purposes of taxation, of certain specified assets received by a taxpayer without consideration or for inadequate consideration. Pl go through the same.
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