TaxTMI 
TaxTMI 
Equity shares issued by company in respect of which exemption is available under clause (xx) of sub-section (1) - Company could make application for issue of appropriate certificate for claiming exemption by individual shareholders
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....spect of which exemption is available under clause (xx) of sub-section (1) - Company could make application for issue of appropriate certificate for claiming exemption by individual shareholders 1. Attention is invited to the provisions contained in clause (xx) of sub-section (1) of section 5. Clause (xx) exempts from wealth-tax the value of any equity shares held by the assessees in any compan....
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.... (who is also the Wealth-tax Officer) assessing the company, for the issue of an appropriate certificate. When the certificate is issued the company should furnish copies of the same to each of its shareholders who can, in turn, produce it before his Wealth-tax Officer for claiming exemption under section 5(1)(xx). 3. The Board have also decided that an application for the issue of certificate ....
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....declared as being exempt under section 5(1)(xx) of the Wealth-tax Act, 1957, in the hands of the respective shareholders for assessment year 20 ................ 20 ............... : 1. Name of the company 2. Whether the conditions laid down in section 45(d) of Wealth-tax Act, 1957, are satisfied (furnish details) 3. Place of registration and location of head office 4. Total amount of c....
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....; Status ......................................................... Date..................................... Address ...................................................... Annex B - Form of certificate Office of the Income-tax-Cum-Wealth-tax Officer Place.................................. ....