Fair market value

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I have a doubt that should the share application money  be excluded from total liabilities for calculation of fair market value of shares of a company under rule 11UA of income tax rules?

Replies (1)

@ Mohit,

In case shares and securities are unquoted in such case the formula under Rule-11UA is

Assets (Less) Liabilities

 then in such we should not add share application to the liabilities head.

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