Share premium treatment: specified funds and compliance failures can render excess consideration taxable and deemed underreported.

The amendment broadens the non-taxable treatment of share issue consideration under clause (viib) of section 56(2) to include receipts from a specified fund-a Category I or II AIF registered and regulated under SEBI; it adds a proviso deeming excess consideration over face value to be the company's income where notification-based eligibility conditions are later breached, and Lok Sabha changes state excess is measured against fair market value and treated as underreported. The Bill also substitutes reference to sub-section (1) of section 145B and permits other prescribed electronic modes and rulemaking to exclude receipts from specified classes.

---

---

---