Incometax
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
16 April 2012
Pvt. Ltd. Company had sold the 5% stake of the company to an Indian Resident. Company has collected share premium while selling the stake of the company. Whether share premium collected by a company is taxable ? If yes, then how the taxability be determined?
Also, consider the above query with NRI?
Also, consider the above query with NRI?
16 April 2012
Share premium is not taxable in income tax in hands of company.
If a person takes a stake in newly incorporated company as a promoter then no tax liablity arise in hand of company.
Incase of sale of share by a shareholder to another person capital gain arise in hands of seller.
If a person takes a stake in newly incorporated company as a promoter then no tax liablity arise in hand of company.
Incase of sale of share by a shareholder to another person capital gain arise in hands of seller.
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