NARSING RAO BEESAM (ACCOUNTANT) 21 January 2015
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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