Purchase of shares of a private limited company by directors


NARSING RAO BEESAM (ACCOUNTANT)     21 January 2015

NARSING RAO BEESAM
ACCOUNTANT 
 26 points

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M/s 'A Pvt. limited company has issued shares 500 shares at Rs.10 per share with a premium of Rs.490 to M/s X Pvt. Ltd.,. After a few months, the directors of M/s A Pvt. Ltd., purchased the above shares from  M/s X Pvt. Ltd., at Rs.10 per share with a premium of Rs.2 each.  What is the tax implication in the hands of directors or / and in the hands of M/s A Pvt. Ltd.,?




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