Prescription of exemption from deeming of fair market value of shares for certain transactions

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..... alia, provide for chargeability of income in case of receipt of money or specified property for no or inadequate consideration. For determining the amount of income for receipt of certain shares, the fair market value of the shares is taken into account. Similarly, section 50CA provides for deeming of fair market value of unquoted shares for computing the capital gains from the transfer of such s .....

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..... he provisions of section 56(2)(x) and 50CA shall not be applicable. These amendments will take effect from 1st April, 2020 and will, accordingly, apply in relation to the assessment year 2020-21 and subsequent assessment years. [Clauses 19 21] - FAQ - Frequently Asked Questions, TMI Short Notes , Experts comment, opinion Tax Management .....

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