https://www.taxtmi.com/forum/issue?id=112874 Transfer of shares to a promoter's spouse at nil consideration raises whether receipt of shares without consideration is taxable under income tax rules addressing issuance or transfer of shares for less than fair value; the company did not obtain a fair market valuation and is loss making. The sole recorded reply simply advised consulting a chartered accountant, leaving unresolved whether the transfer attracts tax, whether it should be treated as a gift or deemed income, and whether the company faces exposure or compliance obligations. en-us Mon, 25 Sep 2017 19:49:55 +0530 Thu, 23 Jan 2025 15:55:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=112874 Transfer of shares to a promoter's spouse at nil consideration raises whether receipt of shares without consideration is taxable under income tax rules addressing issuance or transfer of shares for less than fair value; the company did not obtain a fair market valuation and is loss making. The sole recorded reply simply advised consulting a chartered accountant, leaving unresolved whether the transfer attracts tax, whether it should be treated as a gift or deemed income, and whether the company faces exposure or compliance obligations. Discussion-Forum Income Tax Mon, 25 Sep 2017 19:49:55 +0530 https://www.taxtmi.com/forum/issue?id=112874