Bonus Shares Exempt from Income Tax Act Section 56(2)(vii)(c); No Property Transfer or Tax Triggered for Shareholders.

Bonus Shares Exempt from Income Tax Act Section 56(2)(vii)(c); No Property Transfer or Tax Triggered for Shareholders. https://www.taxtmi.com/highlights?id=71895 Addition u/s 56(2)(vii)(c) - bonus shares received - when there is an issue of bonus shares, the money remains with the company and nothing comes to the shareholders as there is no transfer of the property and the provisions of Section u/s 56(2)(vii)(c) of the Act are not attracted to the fact situation of the case. - AT en-us Fri, 08 Sep 2023 09:02:50 +0530 Fri, 08 Sep 2023 15:38:34 +0530 TaxTMI RSS Generator Bonus Shares Exempt from Income Tax Act Section 56(2)(vii)(c); No Property Transfer or Tax Triggered for Shareholders. https://www.taxtmi.com/highlights?id=71895 Addition u/s 56(2)(vii)(c) - bonus shares received - when there is an issue of bonus shares, the money remains with the company and nothing comes to the shareholders as there is no transfer of the property and the provisions of Section u/s 56(2)(vii)(c) of the Act are not attracted to the fact situation of the case. - AT Highlights Income Tax Fri, 08 Sep 2023 09:02:50 +0530 https://www.taxtmi.com/highlights?id=71895