Amendment to section 56(2)(viib) of Income-tax Act, 1961 to ...

Tax exemption for closely-held cos on share issue premium from FY26. Excess consideration over fair value not taxable as income.

Notes Bill

August 2, 2024

Amendment to section 56(2)(viib) of Income-tax Act, 1961 to provide exemption from tax on consideration received by closely-held companies for issue of shares exceeding fair market value from assessment year 2025-26. Provision introduced in 2012 to tax excess consideration as income from other sources being sunset. Effective from April 1, 2025.

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Amendment to section 56(2)(viib) of Income-tax Act, 1961 to ...

Tax exemption for closely-held cos on share issue premium from FY26. Excess consideration over fair value not taxable as income.

Notes Bill

August 2, 2024

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