Section 56(2)(viia)
This query is : Resolved
10 October 2012
Whether section 56(2)(viia) is also applicable to fresh issue of share capital? A private company has issued recently fresh issue of equity shares Rs. 20 Lakh to a private company at Rs.10 having face value Rs.10/- although at the time of issue of fresh share capital book vaule of share is Rs.250/- Whether Rs.240/-(250-10) per share is income under section 56(2)(viia) of Income Tax Act,1961.
13 October 2012
Section 56(2)(viia) is applicable to each and every issue of shares to a firm or a private company.
Accordingly in the above case, Section 56(2)(viia) shall be applicable if more than 209 shares are issued.
Accordingly in the above case, Section 56(2)(viia) shall be applicable if more than 209 shares are issued.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Showing Gift from relative in ITR for this year
- Share accounting-->fifo - capital gain - period as per fifo?
- ITR selection for salaries and capital gain less than L
- Treatment of Pension ?annuity returns on PMVY
- ITR filing- non tax audit cases- Asstt.Year 2026-2027
- Soyabean hsn code and gst rate
- Regarding IMS Mandatory from 1st July 2026
- Scrutiny assessments u/s 143(2) for AY 25-26
- Salary and pension received from Asian Development Bank
- AY 26-27 ITR-4 FILING U/S 44-ADA
- Gst invoice numbering and delivery challan numbering
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Small dealers gst returns filing
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
