Sec. 56(2)(viib)
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Querist : Anonymous
Querist :
Anonymous
(Querist)
21 May 2012
Could somebody help me in understanding the amendment to the proposal made for Sec 56(2)(viib)in the Union Budget. Thanks in advance.
24 May 2012
Let us suppose the fair value of the share of a PRIVATE COMPANY is Rs. 100.
The company issues shares @ Rs. 300.
Rs. 200 per share shall be deemed to be the income of the company u/s 56(2)(viib).
The company issues shares @ Rs. 300.
Rs. 200 per share shall be deemed to be the income of the company u/s 56(2)(viib).
Querist : Anonymous
Querist :
Anonymous
(Querist)
25 May 2012
Thanks a lot Sir. One thing I would like to understand is that if there is a newly established private company, can't it issue shares at premium. Is there any relief for such newly formed private companies?
25 May 2012
There is no relief for private limited companies.
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