Declaration as to shares held in trust Whether expression “trust money invested in shares or debentures of company”, occurring in sub section (4), as it stood before the Amendment Act, 1965, also covers shares obtained as gift or on allotment of bonus shares

Declaration as to shares held in trust Whether expression “trust money invested in shares or debentures of company”, occurring in sub section (4), as it stood before the Amendment Act, 1965, also covers shares obtained as gift or on allotment of bonus shares https://www.taxtmi.com/circulars?id=10736 Shares or debentures received by a trust as gift or on allotment of bonus shares are included in the expression trust money invested in shares or debentures of a company for declaration purposes; valuation is ordinarily the cost to the trust, but for gifted or bonus securities that are quoted the market value at the time of receipt is used, and if unquoted the face value may be adopted. en-us Sat, 22 Feb 1964 00:00:00 +0530 Thu, 16 Jun 2011 16:01:00 +0530 TaxTMI RSS Generator Declaration as to shares held in trust Whether expression “trust money invested in shares or debentures of company”, occurring in sub section (4), as it stood before the Amendment Act, 1965, also covers shares obtained as gift or on allotment of bonus shares https://www.taxtmi.com/circulars?id=10736 Shares or debentures received by a trust as gift or on allotment of bonus shares are included in the expression trust money invested in shares or debentures of a company for declaration purposes; valuation is ordinarily the cost to the trust, but for gifted or bonus securities that are quoted the market value at the time of receipt is used, and if unquoted the face value may be adopted. Circulars Companies Law Sat, 22 Feb 1964 00:00:00 +0530 https://www.taxtmi.com/circulars?id=10736