Section 56(2) of Income Tax Act: Allotment of Shares Below FMV Exempt if No Change in Shareholding Pattern.

Section 56(2) of Income Tax Act: Allotment of Shares Below FMV Exempt if No Change in Shareholding Pattern. https://www.taxtmi.com/highlights?id=68013 Addition u/s 56(2) - Allotment of shares - price less than the FMV - Merely by converting the share application money by allotting shares at a subsequent date cannot attract the provisions of section 56(2)(viia) as there is no change in the shareholding pattern subsequent to the allotment of shares by the subsidiary company. - AT en-us Thu, 02 Feb 2023 10:12:50 +0530 Thu, 02 Feb 2023 10:12:50 +0530 TaxTMI RSS Generator Section 56(2) of Income Tax Act: Allotment of Shares Below FMV Exempt if No Change in Shareholding Pattern. https://www.taxtmi.com/highlights?id=68013 Addition u/s 56(2) - Allotment of shares - price less than the FMV - Merely by converting the share application money by allotting shares at a subsequent date cannot attract the provisions of section 56(2)(viia) as there is no change in the shareholding pattern subsequent to the allotment of shares by the subsidiary company. - AT Highlights Income Tax Thu, 02 Feb 2023 10:12:50 +0530 https://www.taxtmi.com/highlights?id=68013