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Income Tax - Highlights / Catch Notes

Home Highlights August 2019 Year 2019 This

Clarification with respect to assessment of Startup Companies ...


New Guidance on Startup Share Valuation u/s 56(2)(viib) of Income-tax Act to Ensure Fair Tax Treatment.

August 12, 2019

Circulars     Income Tax

Clarification with respect to assessment of Startup Companies involving application of section 56(2) (viib) of the Income-tax Act, 1961

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  1. Appellate Tribunal held that the Assessing Officer failed to provide findings for rejecting assessee's claim of exemption as a startup from applicability of section...

  2. 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...

  3. Addition u/s.56(2)(viib) - Determination of FMV of shares - Admittedly, provision of section 56(2)(viib) of the Act do not prescribe only one method for valuation of...

  4. Assessee issued shares at fair market value computed as per Rule 11UA(2), but Assessing Officer (AO) and CIT(A) rejected valuation without justification. Statute...

  5. Applicability of section 56(2)(viib) and valuation of shares in cases of Right Issues - Revision order u/s 263 - The Tribunal disagreed with the Pr. CIT's valuation of...

  6. Addition u/s. 56(2)(viib) - valuation of shares - the valuer has merely adopted the projections made by the management and there was substantial difference in cash flow...

  7. The Income Tax Appellate Tribunal (ITAT) examined the addition made u/s 56(2)(viib) for the difference between the market value and consideration received for shares...

  8. The ITAT held that for determining the fair market value of shares u/s 56(2)(viib) of the Income Tax Act, it is mandatory to follow the methods prescribed u/rs 11U and...

  9. Conversion of loan into share capital attracts provisions of Section 56(2)(viib) of the Income Tax Act. The term 'consideration' used in the section has wide...

  10. Addition under the Head "Income from Other Sources" u/s 56(2)(viib) - It is apparent that there is no case of application of Section 56(2)(viib) to the facts of...

  11. 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...

  12. Addition u/s 56(2)(viib) - income from other sources - share premium received by the assessee - discarding the DCF method of valuation of shares adopted by the assessee...

  13. Addition u/s 56(2)(viib) - valuation under Rule 11UA (2) - Even if preferential shares and equity shares are considered to be falling within the purview of Section...

  14. Angle Tax - Investment in start-ups from 21 countries - Provision U/s 56(2)(viib) of IT Act 1961 shall not apply in respect of Exemption from any consideration for issue...

  15. Addition u/s 56(2)(viib) - excess premium collected on issue of equity shares from resident individuals - assessee is a recognized startup from DPIIT, Ministry of...

 

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