Equity shares issued by company in respect of which exemption is available under clause (xx) of sub-section (1) - Company could make application for issue of appropriate certificate for claiming exemption by individual shareholders https://www.taxtmi.com/circulars?id=4474 Equity shares issued as an initial equity issue that satisfy the statutory company type criteria and timing may be exempt from wealth tax for shareholders; the company may apply to its assessing Income tax cum Wealth tax Officer for a prescribed certificate, which when issued and furnished to shareholders enables them to produce it to claim exemption for the specified assessment years following the company's commencement of operations. en-us Thu, 18 Nov 1971 00:00:00 +0530 Sat, 09 Aug 2008 12:38:00 +0530 TaxTMI RSS Generator Equity shares issued by company in respect of which exemption is available under clause (xx) of sub-section (1) - Company could make application for issue of appropriate certificate for claiming exemption by individual shareholders https://www.taxtmi.com/circulars?id=4474 Equity shares issued as an initial equity issue that satisfy the statutory company type criteria and timing may be exempt from wealth tax for shareholders; the company may apply to its assessing Income tax cum Wealth tax Officer for a prescribed certificate, which when issued and furnished to shareholders enables them to produce it to claim exemption for the specified assessment years following the company's commencement of operations. Circulars Income Tax Thu, 18 Nov 1971 00:00:00 +0530 https://www.taxtmi.com/circulars?id=4474