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Section 68 Update: Share Premium from Hong Kong Holding Companies is a Capital Transaction, Not Taxable Income.

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Full Text of the Document

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....Addition made on share premium u/s.68 - share premium received from its holding companies namely situated at Hongkong, who are non resident entities - the said share premium is on account capital transaction and is not an income within charging Sections of the 1961 Act. - AT....

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