Section 56(2) of income tax act.
This query is : Resolved
Ishant agarwal
(Querist)
11 March 2013
Hello Sir/madam
I want to know some Expert Opinion on below Case
"A" Private limited Company has 1 Cr. Authorised Capital, and his Paid Up Capital is Rs. 1 Lac,His Face value Per Share is Rs. 10, Company Fair Marker Value Per Share is Approx 22 Rs. Now it issue Further 99000 Share At Rs. 20 (10 Rs. Premium),
Now i want to know that Can This Premium Amount is Taxable.
Another Question
Suppose Company issue his 99000 Share at Rs. 120 (110 Rs. premium up to 31.03.2013 then can this Amount is Taxable.
Thanks
I want to know some Expert Opinion on below Case
"A" Private limited Company has 1 Cr. Authorised Capital, and his Paid Up Capital is Rs. 1 Lac,His Face value Per Share is Rs. 10, Company Fair Marker Value Per Share is Approx 22 Rs. Now it issue Further 99000 Share At Rs. 20 (10 Rs. Premium),
Now i want to know that Can This Premium Amount is Taxable.
Another Question
Suppose Company issue his 99000 Share at Rs. 120 (110 Rs. premium up to 31.03.2013 then can this Amount is Taxable.
Thanks
CA Suraj Lakhotia
(Expert)
11 March 2013
Premium amount is not taxable.
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