Shares consideration paid more than FMV

Pankaj Arora (Learner) (3134 Points)

24 October 2018  
Hi..

I have below mentioned query.

ABC Ltd acquire 60% shares from Mr Ram, FMV of share is Rs 30/- and ABC Ltd paid Rs 80/- in consideration.

Please let me know if there is any provision attracted in income tax act for paying consideration more than its FMV.