Gift received by firm or closely held company - (Old) Section 56(2)(viia) [ upto 31.03.2017 ]

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Full Text of the Document

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....s year • from any person or persons on or after 01-06-2010 but before 1-4-2017, shares of a company not being a public company • Without Consideration, the aggregate fair market value (FMV) of which exceeds 50,000, the whole of the FMV of such shares. • For a consideration which is less than FMV of shares by an amount exceeding 50,000, the aggregate fair mark....