Query regarding share transfer at nil value on Section 56(2)(viib) ,Income Tax

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....uery regarding share transfer at nil value on Section 56(2)(viib) ,Income Tax<br> Query (Issue) Started By: - Gautam M Dated:- 25-9-2017 Last Reply Date:- 21-10-2017 Income Tax<br>Got 1 Reply<br>Incom....

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....e Tax<br>Hello, The financial investor in a pvt ltd company exited his investment by transferring all the shares to wife of promoter at nil value ie no money was exchanged. The company is loss making....

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.... and FMV was not calculated. Is this liable for tax u/s 56(2)(viib) ? How can tax be levied if no commercial transaction has occurred? Also does the company have any exposure in this regard. Expert ad....

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....vice in this regard is solicited since the act fails to address nil value scenario. Reply By MARIAPPAN GOVINDARAJAN: The Reply: Since it involves many issues you may consult a Chartered Accountant i....

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....n this regard.<br> Discussion Forum - Knowledge Sharing ....