Tax implications on issue of bonus shares
This query is : Resolved
Sonakshi Mangla
(Querist)
28 April 2015
What are the tax implications for a company issuing bonus shares? will it be covered under ambit of distribution tax?
CA MANOJ GUPTA
(Expert)
29 April 2015
NO ITS NOT DIVIDEND 7UNDER SECTION 2(22)
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Sonakshi Mangla
(Querist)
29 April 2015
so it means that there will not be any tax liability on company issuing bonus shares out of security premium?
CA MANOJ GUPTA
(Expert)
29 April 2015
no liability of the company in this regard
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