Tax exemption for closely-held cos on share issue premium from FY26. Excess consideration over fair value not taxable as income. https://www.taxtmi.com/highlights?id=80067 Amendment to section 56(2)(viib) of Income-tax Act, 1961 to provide exemption from tax on consideration received by closely-held companies for issue of shares exceeding fair market value from assessment year 2025-26. Provision introduced in 2012 to tax excess consideration as income from other sources being sunset. Effective from April 1, 2025. en-us Fri, 02 Aug 2024 15:17:25 +0530 Fri, 02 Aug 2024 15:17:25 +0530 TaxTMI RSS Generator Tax exemption for closely-held cos on share issue premium from FY26. Excess consideration over fair value not taxable as income. https://www.taxtmi.com/highlights?id=80067 Amendment to section 56(2)(viib) of Income-tax Act, 1961 to provide exemption from tax on consideration received by closely-held companies for issue of shares exceeding fair market value from assessment year 2025-26. Provision introduced in 2012 to tax excess consideration as income from other sources being sunset. Effective from April 1, 2025. Highlights Bill Fri, 02 Aug 2024 15:17:25 +0530 https://www.taxtmi.com/highlights?id=80067