Angle Tax - Start-ups Recognized by DPIIT - Provision of section 56(2)(viib) of IT Act 1961, shall not apply to consideration received by a company for issue of shares that exceeds the face value of such shares in the case of Startup, subject to conditions - Supersession Notification No. 13/2019 dated 5th March 2019 - 30/2023 - Income Tax Act, 1961
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Tax exemption for startup share premium: excess consideration excluded from section 56(2)(viib) when DPIIT conditions met. Provisions of section 56(2)(viib) shall not apply to consideration received by a company for issue of shares that exceeds face value where the company is recognized as a DPIIT startup, meets the conditions in paragraph 4 of the DPIIT recognition notification, and files the declaration required by paragraph 5 of that notification; the notification supersedes the earlier 2019 communication and is effective from the stated commencement of the fiscal period.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Tax exemption for startup share premium: excess consideration excluded from section 56(2)(viib) when DPIIT conditions met.
Provisions of section 56(2)(viib) shall not apply to consideration received by a company for issue of shares that exceeds face value where the company is recognized as a DPIIT startup, meets the conditions in paragraph 4 of the DPIIT recognition notification, and files the declaration required by paragraph 5 of that notification; the notification supersedes the earlier 2019 communication and is effective from the stated commencement of the fiscal period.
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