X Ltd., closely held company receives shares of A Ltd. (a listed public company) for 10,000 whose fair market value is 5,00,000. What is the taxability of X Ltd.?

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... firm or closely held company [Sec. 56(2)(viia)] Income Tax – Other Sources
Income Tax
Manuals
Dated:- 19-8-2015
Chapter No. 03 - Other Sources - Gift receieved by firm or closely held comp .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X