Tax on share premium

AVIJIT (CA FINALIST) (370 Points)

17 May 2012  

If I have 10000 shares of Rs.10 each i.e. Rs.1lac share capital and reserve & surplus of Rs.9Lac. Further my asset side comprises of Fixed assets of Rs.3Lac and Current Assets of Rs.7lac. Now, if keep on issuing shares at Rs.100 each i.e. at Rs.90 premium, will I need to pay any tax for this??

 

Thanks in Advance for everyone's suggestions.