Dealings in shares Taxation aspects

By:

NATARAJAN, S

Material type:

Mixed materialsPublication details: 2013Description: 1481-1485Subject(s):

STOCK MARKET

NLM classification:

332.6322

In: CHARTERED SECRETARYMSummary: 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.

Tags from this library: No tags from this library for this title. Log in to add tags.

Average rating: 0.0 (0 votes)

Holdings
Item type	Current library	Call number	Vol info	Status	Date due	Barcode
Periodicals/Magazines	SSCBS Library		43/12	Available		P15169

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.

There are no comments on this title.

to post a comment.