Dear Friends,
In section 68 new clause is inserted regarding share premium w.e.f. 1st April 2013. I want to know whether this is effective from Financial Year 2013-14 or Assessment year 2013-14.
Thanks
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Effectivity of amendment
Replies (2)
Dear Sumit
i have my doubt about the question becouse
(1) As per Income tax act - Section 68 is related to Cash Credits
(2) As per companies act - section 68 is related to penalty for fraudulently including persons to invest money.
So please correct ur question.
Thanks
Shankar
Dear Shankar,
It's about income tax only.
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