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Treatment of security premium by newly formed pvt ltd co.
assessee pvt ltd co. having authorised share capital of Rs.20 lac and allotted the same with 40 lac as premium and rest returned. is there any tax implication for this premium?
Replies (2)
Hi,
Premium recieved is capital in nature and not of income nature. According to a Case of Green Infra Ltd, Mumbai tribunal, premium recieved will not be taxable.
For any further query PM or mail me.
AJH & CO.
anubhavjain @ ajhco.in
9868729930
thank you very much!
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