Relaxation from the conditions of issue of shares at premium in excess of Fire Market Value u/s 56(2)(viib) where approval has been granted by the Inter-Ministerial Board of Certification

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..... s) NOTIFICATION NO. 24/2018 New Delhi, the 24th May, 2018 INCOME-TAX S.O. 2088(E).-In exercise of the powers conferred by the clause (ii) of the proviso to clause (viib) of sub-section (2) of section 56 of the Income-tax Act, 1961 (43 of 1961) and in supersession of the notification number S.O. 1160 dated 14th June, 2016 issued by Department of Revenue, Central Board of Direct Taxes, the Centr .....

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..... have come into force retrospectively from the 11th April, 2018. [F. No.370142/5/2018-TPL (Pt)] PRAVIN RAWAL, Director (Tax Policy and Legislation) ********** Notes 1. Substituted vide NOTIFICATION NO. 9/2019 dated 31-01-2019 before it was read as "consideration received by a company for issue of shares that exceeds the face value of such shares, if the consideration has been received for .....

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