Dear Sir, please advice whether Section 56(2)viib will applicable if a close held company issue its shares to venture capital company/ venture capital fund at more then FMV.
2 Replies
rama krishnan
(12244 Points)
Replied 14 June 2017
56(2)(viia) applicable only when shares are transferred with out consideration or with out adequate consideration and more over its not applicable in cases of ventures
CA VIVEK JHA
(CHARTERED ACCOUNTANTS)
(264 Points)
Replied 15 June 2017
Please also advice whether a closed held company can calculate its book value of shares as per Rule 11 UA by DCF Method.
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