Buying Shares Below Fair Market Value May Trigger Tax Additions Under Income Tax Act Sections 69 or 56(2)(vii)(C).

Buying Shares Below Fair Market Value May Trigger Tax Additions Under Income Tax Act Sections 69 or 56(2)(vii)(C). https://www.taxtmi.com/highlights?id=47449 Deemed income from purchase of shares - purchases at lower price than FMV - addition u/s 69 OR u/s 56 (2)(vii)(C) - asset that has been transferred in this transaction in shares, which is covered under the definition of property as per clause (d) of the second proviso to the u/s 56(2)(vii) and FMV in respect of listed shares are the quoted price on the recognized stock exchange - taxable u/s 56(2)(vii) en-us Wed, 26 Jun 2019 07:36:47 +0530 Wed, 26 Jun 2019 07:36:47 +0530 TaxTMI RSS Generator Buying Shares Below Fair Market Value May Trigger Tax Additions Under Income Tax Act Sections 69 or 56(2)(vii)(C). https://www.taxtmi.com/highlights?id=47449 Deemed income from purchase of shares - purchases at lower price than FMV - addition u/s 69 OR u/s 56 (2)(vii)(C) - asset that has been transferred in this transaction in shares, which is covered under the definition of property as per clause (d) of the second proviso to the u/s 56(2)(vii) and FMV in respect of listed shares are the quoted price on the recognized stock exchange - taxable u/s 56(2)(vii) Highlights Income Tax Wed, 26 Jun 2019 07:36:47 +0530 https://www.taxtmi.com/highlights?id=47449