Sec 56(2)(viib)
This query is : Open
26 June 2012
The FMV of the shares for the purpose of newly inserted Sec 56(2)(viib) is to be calculated on the date of issue of shares or on 31st March i.e. Balance Sheet Date? Suppose a company is going to issue shares in between a financial year, say on 20th September, should it make a balance sheet on that date or what is to be done for the purpose of calculating FMV of the shares? Please guide.
26 June 2012
No, the FMV as on the date of transfer is to be considered.
26 June 2012
Thanks a lot Sir, but please tell me whether the company has to make the balance sheet as on the date of transfer and get it certified by CA?
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