Section 56(2) of the it act
This query is : Open
Querist : Anonymous
Querist :
Anonymous
(Querist)
22 August 2013
Dear Experts,
my client is a PVT Ltd company. and want to issue the equity share to the directors at a premium of Rs. 80/- per share.
face value is 10/- per share
book value is 90/- per share
Can you please advise whether tax u/s 56(2) will applicable on Rs.80/- ?
Regards,
Vijay Jain
my client is a PVT Ltd company. and want to issue the equity share to the directors at a premium of Rs. 80/- per share.
face value is 10/- per share
book value is 90/- per share
Can you please advise whether tax u/s 56(2) will applicable on Rs.80/- ?
Regards,
Vijay Jain
22 August 2013
In my view Section 56(2) (vii)(c)(ii) would apply to the Director on the difference between the FMV and consideration .(90-80=10)
Querist : Anonymous
Querist :
Anonymous
(Querist)
23 August 2013
Thanks,
can you please tell the method to calculate FMV ?
Vijay
can you please tell the method to calculate FMV ?
Vijay
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