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Clarification on Section 56(2)(viia) of Income-tax Act: Tax Applies to Share Transfers, Not New Share Issuances.

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....Clarification regarding applicability of section 56(2)(viia) of the Income-tax Act, 1961 for issue of shares by a company in which public are not substantially interested....

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Clarification on Section 56(2)(viia) of Income-tax Act: Tax Applies to Share Transfers, Not New Share Issuances.