https://www.taxtmi.com/manuals?id=922 Section 56(2)(viib) applies where a closely held company receives consideration for issue of shares from a resident in excess of face value and such excess exceeds the fair market value of the shares. The excess is taxable as income from other sources. Fair market value is determined under rule 11UA or by valuation substantiated to the Assessing Officer, including value of assets and intangible assets. The provision is subject to specified exemptions and valuation rules. en-us Tue, 18 Aug 2015 17:04:00 +0530 Wed, 13 May 2026 19:01:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/manuals?id=922 Section 56(2)(viib) applies where a closely held company receives consideration for issue of shares from a resident in excess of face value and such excess exceeds the fair market value of the shares. The excess is taxable as income from other sources. Fair market value is determined under rule 11UA or by valuation substantiated to the Assessing Officer, including value of assets and intangible assets. The provision is subject to specified exemptions and valuation rules. Manuals Income Tax Tue, 18 Aug 2015 17:04:00 +0530 https://www.taxtmi.com/manuals?id=922