https://www.taxtmi.com/article/detailed?id=1712 Where a closely held company receives share issue consideration from a resident exceeding face value, the excess over the fair market value is proposed to be taxable under Income from other sources, excluding venture capital subscriptions. Fair market value will be the higher of a prescribed-method valuation or a value substantiated to the Assessing Officer, including asset and intangible asset considerations. en-us Wed, 09 May 2012 18:47:23 +0530 Wed, 09 May 2012 18:47:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=1712 Where a closely held company receives share issue consideration from a resident exceeding face value, the excess over the fair market value is proposed to be taxable under Income from other sources, excluding venture capital subscriptions. Fair market value will be the higher of a prescribed-method valuation or a value substantiated to the Assessing Officer, including asset and intangible asset considerations. Articles Income Tax Wed, 09 May 2012 18:47:23 +0530 https://www.taxtmi.com/article/detailed?id=1712