Section 56 2
This query is : Resolved
21 January 2016
Hello Experts
I want to sell my shares to non related party at a price which is less than the fair market value, but we had made an mou on August month when the market price was 56. and we both the parties agreed at that rate,but the question is today the rate of share is 100.
can inadequate consideration question arises as per IT.
23 January 2016
Yes under section 56(2)(c)(ii) of the Income Tax Act, 1961
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