Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Bill - Highlights / Catch Notes

Home Highlights March 2016 Year 2016 This

Amendment of section 56. - to provide exemption from tax in the ...


Section 56 Amendment: Tax Exemption for Individuals and Hindu Undivided Families on Shares from Company Demergers or Amalgamations.

March 1, 2016

Act Rules     Bill

Amendment of section 56. - to provide exemption from tax in the hands of an individual or a Hindu undivided family, on receipt of shares as a consequence of demerger or amalgamation of a company.

View Source

 


 

You may also like:

  1. Income Tax: Section 47(iii) of the Income Tax Act, which exempts transfers of capital assets under gift, will or irrevocable trust from capital gains tax, is proposed to...

  2. Revision u/s 263 - denial of deduction u/s 54 in the hands of Individual - Partition of HUF or not - reading of sub- section 171 of the Income Tax Act, 1961 makes it...

  3. Income Tax: Section 194M mandates individuals or Hindu undivided families to deduct 5% TDS on payments made to residents for contract work, commissions, brokerage, or...

  4. Amendment of section 10. - Any income by way of dividend in excess of ten lakh rupees shall not be exempt from tax in the case of an individual, Hindu undivided family or a firm

  5. Addition u/s 56(2)(vii)(c)(ii) - allotment of shares to assessee shareholder at a value lower - whether Tax to be paid by the shareholders or the company? - The shares...

  6. Assessment in the hands of the non exisiting HUF - The words 'hitherto assessed as undivided' [u/s 171(1)] are very important while considering the section. If the...

  7. Addition u/s 56(2)(vii)(c) - related person - allotment of equity shares @ Rs. 10/- - book value of shares prior to allotment worked out at Rs. 552/- per share - the...

  8. Reopening of assessment u/s 147 - loss on transactions of sale and purchase of shares - even otherwise the assessee being transferor of shares cannot be subjected to tax...

  9. Interest granted u/s 28 of the Land Acquisition Act on enhanced compensation or compensation awarded by the reference court u/s 18, from the date of land possession till...

  10. Addition u/s 56(2)(viib) - Share Capital - excessive Share premium - closely held company - Rule 11UA - Assessee has failed to explain and justify issue of preference...

  11. Clarification in respect of option under section 115BAC of the Income-tax Act, 1961 - Concessional rate of tax in case of individual or a Hindu undivided family (HUF) -...

  12. Insertion of new section 115 BBDA-Tax on certain dividends received from domestic companies. - any income by way of dividend declared, distributed or paid by a domestic...

  13. Addition u/s. 56(2)(vii)(c) - additional 82,200 shares allotted to assessee due to renouncement of rights by wife & father of the assessee - the aim and intention behind...

  14. Addition u/s 56 - allotment of shares cannot be equated with receipt of shares - receipt of share there should be shares in existence and a person holding such share...

  15. Section 56(2)(viib) deals with the consideration received by a company for issue of shares at a premium. The assessee company issued equity shares at a premium, which...

 

Quick Updates:Latest Updates