Please Help: INCOME TAX
Posted Date : 05-May-2012 , 07:47:39 pm | Posted By DINESH GUPTA
WHETHER MONEY RECEIVED FOR ISSUE OF SHARES ALSO INCLUDES MONEY RECEIVD BY THE COMPANY FOR RE-ISSUE OF FORFEITED SHARES FOR THE PURPOSE OF PROPOSED AMENDED SECTION 56 OF THE INCOME TAX ACT.
Category : Income Tax | Answers : 1 | Comments : 0 | Hits : 222
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Answer By: Rishabh Upadhyay
Since nothing is specifically mentioned about the forfeited shares, it should be treated as other regular shares and treatment should be applied herewith as mentioned in Sec 56
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