https://www.taxtmi.com/acts?id=43566 Clause 23 amends section 56(2)(viib) of the Income tax Act to provide that the provisions of clause (viib) shall not apply on or after 1st April, 2025; clause (viib) had charged as income the excess of consideration received over fair market value on issue of shares by companies not publicly interested, subject to exceptions for venture capital vehicles and notified classes. en-us Tue, 23 Jul 2024 15:34:53 +0530 Tue, 23 Jul 2024 15:35:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=43566 Clause 23 amends section 56(2)(viib) of the Income tax Act to provide that the provisions of clause (viib) shall not apply on or after 1st April, 2025; clause (viib) had charged as income the excess of consideration received over fair market value on issue of shares by companies not publicly interested, subject to exceptions for venture capital vehicles and notified classes. Act-Rules Bills Tue, 23 Jul 2024 15:34:53 +0530 https://www.taxtmi.com/acts?id=43566