TY  - GEN
AU  - NATARAJAN, S
TI  - Dealings in shares: Taxation aspects
PY  - 2013///
KW  - STOCK MARKET
N2  - A new subclause (2) (vii b) under section 56 of the income tax act has been introduced vide Finance Act 2012 applicable only to a corporate assessee. The Act amended section 56(2) of the act and takes effect from April 1, 2013. The new sub clauseprovides the if a company, in which the public is not substantially interested, issues shares to any person resident in India for a consideration exceeding the fair market value of such shares, then the aggregate consideration so exceeding the fair market value will stand taxed as income from other sources
ER  -