Shares from company
This query is : Resolved
26 June 2013
A Company issues shares of Rs.10,00,000/- to its employee free of cost. then what should be the accounting entry in the personal books of account and what is the tax liability on this.
28 June 2013
Make the entry at Fair Market Value of shares by Crediting the same to Salary Income and debiting the Investment in Shares A/c.
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Tax on the FMV of shares is payable as the same is treated as perquisite.
.
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Tax on the FMV of shares is payable as the same is treated as perquisite.
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