https://www.taxtmi.com/acts?id=36797 The amendment broadens the non-taxable treatment of share issue consideration under clause (viib) of section 56(2) to include receipts from a specified fund-a Category I or II AIF registered and regulated under SEBI; it adds a proviso deeming excess consideration over face value to be the company's income where notification-based eligibility conditions are later breached, and Lok Sabha changes state excess is measured against fair market value and treated as underreported. The Bill also substitutes reference to sub-section (1) of section 145B and permits other prescribed electronic modes and rulemaking to exclude receipts from specified classes. en-us Fri, 05 Jul 2019 15:36:22 +0530 Fri, 19 Jul 2019 12:46:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=36797 The amendment broadens the non-taxable treatment of share issue consideration under clause (viib) of section 56(2) to include receipts from a specified fund-a Category I or II AIF registered and regulated under SEBI; it adds a proviso deeming excess consideration over face value to be the company's income where notification-based eligibility conditions are later breached, and Lok Sabha changes state excess is measured against fair market value and treated as underreported. The Bill also substitutes reference to sub-section (1) of section 145B and permits other prescribed electronic modes and rulemaking to exclude receipts from specified classes. Act-Rules Bill Fri, 05 Jul 2019 15:36:22 +0530 https://www.taxtmi.com/acts?id=36797