Hey friendz
just wanted to know if securities premium which is raised at the time of Public Issue is Taxable???
1 Replies
srilakshmi
(ca final)
(369 Points)
Replied 08 January 2009
securties premium is a reserve and will get included in the reserves and surpluses in the liabilities side of the balance sheet but not profit and loss A/c .hence it is not income to the company which is taxable.therefore not taxable
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