Share premium received by closely held company - (Old) Section 56(2)(viib) [ upto 31.03.2025 ]

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.... day of April, 2025 [ Inserted vide Finance (No. 2) Act, 2024 w.e.f. 01.04.2025 ] • Where a company not being a public company, receives in any previous year from any person, being a RESIDENT  [Shall be omitted w.e.f. 01-04-2024, Amendment by FA, 2023] any consideration for issue of shares that exceeds the face value of such shares then- • Aggregate....

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....ere consideration for issue of shares is received: • By venture capital undertaking from a Venture Capital company/ Fund or a specified fund, because these are governed by rules of SEBI . • By a company from a class or classes of persons as may be notified by the central government in this behalf. • Where the provisions of this clause have not been appli....

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....ld company. NOTE:- Inserted vide FINANCE (NO. 2) ACT, 2019 w.e.f. 01-04-2020 • "Specified fund" means a fund established or incorporated in India in the form of a trust or a company or a limited liability partnership or a body corporate which has been granted a certificate of registration as a category I or a Category II Alternative Investment Fund and is regula....

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....m any person being a resident, any consideration for issue of shares that exceeds the face value of such shares, the aggregate consideration received for such shares as exceeds the fair market value of the shares. 1 The fair market value of unquoted equity shares [ Rule 11UA(2) ] 1.1 Where the consideration received by the assessee is from a resident  • shall be the va....