Issue of equity shares by private limited company

Good Morning to all of you,

I have a small query in respect to issue of equity shaes by private limited company.

If a private limited company wants to issue equity shares at premium then, what compliance it should keep in mind for doing so especially after inseertion of section 56(2)(vii)(b) of the Income Tax Act[Taxability in hands of Company if shaers is issued at premium and at a higher price than Fair market value]  . At how much premium company can issue the shares. 

Thanks in advance

Regards

Rajeev Nayak

09873457184