What is the tax treatment of share application money forfeited by a Pvt. Limited Company or against which the applicant shareholder waives off his rights to get shares? Will it be a capital receipt taxabale as a capital gain or a revenue receipt as Income from Other Sources?
Menu
Treatment of share application money forfeited/waived off
Replies (2)
I am not sure but i don't think it is taxable at all. The forfeited amount will be directly transfered to capital reserve account.
/experts/write-off-of-share-application-money-8296.asp
Recent Topics :
- Income tax or capital gain tax for Resident Indivi
- PCIT-1 Thane Email address
- CA Fees deduction for non audit case allowed?
- 5th Letter PAN Mismatch with Surname issues still
- Criteria to hire an article
- Guidence requested for a Finance Professional with
- Expert Opinion Required – Form 140 Gross Amo
- WRONG TAX DEMAND - formal responses , rectificatio
- Foreign remittance
- Affordable Residential Flats in Gurgaon
Related Topics :
CAclubindia
