banner_ad

Section 56(2)(viia)

Tax queries 522 views 2 replies

What is the Tax treatment in the hand of AOP in case of purchase of shares of the private company from another person at lower that its fair market value ?????

e.g. An AOP purchase 5000 shares of ABC Pvt. Ltd. from Mr. Ram at Rs. 10 per share. Fair Market value of shares is 250 per share. Can section 56 (2) (viia) is attracted  in the hand of AOP.  

 

 

Replies (2)

where an individual or a Hindu undivided family receives, in any previous year, from any person or persons on or after the 1st day of October, 2009,—

      (a)  any sum of money, without consideration, the aggregate value of which exceeds fifty thousand rupees, the whole of the aggregate value of such sum;

      (b)  any immovable property,—

       (i)  without consideration, the stamp duty value of which exceeds fifty thousand rupees, the stamp duty value of such property;

      (ii)  for a consideration which is less than the stamp duty value of the property by an amount exceeding fifty thousand rupees, the stamp duty value of such property as exceeds such consi-deration;

      (c)  any property, other than immovable property,—

       (i)  without consideration, the aggregate fair market value of which exceeds fifty thousand rupees, the whole of the aggregate fair market value of such property;

      (ii)  for a consideration which is less than the aggregate fair market value of the property by an amount exceeding fifty thousand rupees, the aggregate fair market value of such property as exceeds such consideration

 

I think it will not fall under above section............

 

 

 

i also think that because that section is only applicable in the hands of firm and private company.....so the section 56 (2) (viia) is not attracted in the hands of AOP....


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
29 May 2026
Accounts assistant

Shubh Consultancy

Mumbai

Graduate (Any)

View Details
Company
26 May 2026
Education Content Creator

Adyayam Education LLP

Bengaluru

CA Foundation

View Details
Company
Featured 27 May 2026
Lead Conversion Executive / Sales Closing Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
26 May 2026
Audit executive

vdsr & co LLP

Chennai

CA Inter

View Details
Company
19 May 2026
Fundraising Expert

MentorsWorld Ventures Private Limited

Ahmedabad

Others

View Details
Company
ARTICLESHIP 17 May 2026
CA Article /Trainee

Malik Sunil & co

New Delhi

CA Foundation

View Details
Company
12 June 2026
Accounts & Taxation Executive

Winshine Financial Services

Mumbai

CA Inter

View Details
Company
ARTICLESHIP 31 May 2026
Article Assistant

KPRS And Associates

New Delhi

CA Inter

View Details