Share premium received by a company exceeding book value will be taxable w.e.f 01.04.12.
If shares issued at premium partly paid before or up to 31.03.12. And call received after 01.04.12 what will tax effect?
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Share capital
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when this rule came into practice?
The phrase "receives".... " any consideration for issue of shares "... in Section 56(2)(viib) covers calls received after 1.4.2012.
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