Exemption under Section 56(2)(viib)
This query is : Resolved
14 April 2021
How would a company who has claimed exemption u/s 56(2)(viib) withdraw the same voluntarily?
07 July 2024
Under Section 56(2)(viib) of the Income Tax Act, 1961, startups are eligible for exemption on consideration received from issuance of shares exceeding the fair market value (FMV).
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