Hey friendz
just wanted to know if securities premium which is raised at the time of Public Issue is Taxable???
Nikita Khandelwal (Student) (86 Points)
08 January 2009Hey friendz
just wanted to know if securities premium which is raised at the time of Public Issue is Taxable???
srilakshmi
(ca final)
(369 Points)
Replied 08 January 2009
securties premium is a reserve and will get included in the reserves and surpluses in the liabilities side of the balance sheet but not profit and loss A/c .hence it is not income to the company which is taxable.therefore not taxable
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