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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....lause (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 company of the type referred to in clause (d) of sect....

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....he 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 be submitted by the company to the Income-tax Offic....

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....ct, 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 capital under issue (a) Initial issue of equity share (b) Others 5. Date ....

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...... To The Principal Officer, ................................................................................. ................................................................................. Certified that M/s ............................................................. (name of the company) have issued initial issue of equity share on ................................................... to....