merger of companiies

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..... merger of companiies
Query (Issue) Started By: - satbir singh wahi Dated:- 1-7-2010 Last Reply Date:- 7-7-2010 Income Tax
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Income Tax
x ltd is holding 99% shares of y pvt ltd, .....

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..... and y pvt ltd is having share capital 10 lacs and share premium 190 lacs and 200 lacs in bank.whether on merger of two companies, whether share premium will be taxable under IT Act,1961 Reply By Rama .....

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..... Krishana: The Reply: What is the nature of share premium of Rs. 190 lacs? whether this amount has been collected while issuing shares capital of Rs. 10 lacs? If the answer is yes, I don't think that .....

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..... this amount would be taxable. But, before any other discussion, kindly elaborate your cause of concern that has created query in you mind about taxability of such transaction upon merger.
Discussi .....

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..... on Forum - Knowledge Sharing .....

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