Gift of Shares to the Director

This query is : Resolved 

30 December 2008 One company A giving shares to his Directors as gift, value of shares is in crores of Rs.
Will the Company liable to pay FBT on the same?
Will the Director liable to pay income Tax?

Please answer in following 2 situations:-
1. Shares are of compny A
2. Shares are of any other company.



31 December 2008 Please reply.........

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