Applicability of Sec 56 (vii)

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..... Applicability of Sec 56 (vii)
Query (Issue) Started By: - MANOJKUMAR KABRA Dated:- 25-2-2013 Last Reply Date:- 21-3-2015 Income Tax
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Income Tax
An existing private ltd compan .....

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..... y issuing further shares to only few existing shareholder at face value.?? Weather this attracts Sec 56(vii) ? Reply By Rama Krishana: The Reply: The provisions do not talk about the face value. It .....

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..... talk about the fair market value. In general as I understand, fair market value may not be more than fair market value in case of ongoing company. The income is taxable which is in excess of fair ma .....

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..... rket value. It is a question of facts. But, you have fair chance to prove your side.
Discussion Forum - Knowledge Sharing .....

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