Section 56(2)(viib)
This query is : Resolved
18 February 2016
If I have received consideration for issue of shares in the F.Y.2012-13 , and the shares have been issued at premium in F.Y. 2011-12.
Will provision of Section 56(2)(viib) be attracted ?
Will provision of Section 56(2)(viib) be attracted ?
22 February 2016
You mean issue of shares by a company! The difference between the issue price (face value + premium) and the FMV of the shares (as per CA valuation) will be treated as 'other income'.
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