Dear Members,
Good Evening,
A Private Limited company is going to issue Non Convertible Preference Shares, and as per Sec 56 of Income Tax the shares are to be issued at Fair Market Value (FMV).
The Question is even if its a Non Convertible Preference Shares still it needs to be issued at FMV or it can be issued at Par??
Please advice at the earliest
If we apply literal interpretation rule, then it will ne taxable if isssued at more than FMV.
ADY & CO.
New Delhi
Graduate (Any)
View Details
Abic and Mani Chartered Accountants
Kottayam
B.Com
View Details
CCI
Pro
CAclubindia
