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Draft Rules for prescribing the manner of determination of amount received by the company in respect of share - section 115QA of the Income-tax Act, 1961

Income Tax - F No 370133/30/2016-TPL - Dated:- 25-7-2016 - F No 370133/30/2016-TPL Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi, Dated 25thJuly, 2016 Subject: -reg. Under section 115QA of the I .....

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on buy back of shares as reduced by the amount which was received by the company for issue of such shares. 2. The Finance Act, 2016 amended the definition of distributed income , with effect from 01.06.2016, to mean the consideration paid by the com .....

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r different circumstances in which the shares have been issued, is proposed to be provided through the amendments of the Income-tax Rules, 1962. The draft rules, on which comments and suggestion of stakeholders and general public may be sent electron .....

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e including any amount actually received by way of premium shall be the amount received by the company for issue of the share. (2) Where the company had at any time, prior to the buy-back of the share, returned any sum out of the amount received in r .....

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eu of the share or shares of an amalgamating company, then, the amount received by the amalgamating company in respect of such share or shares determined in accordance with this rule, shall be deemed to be the amount received by the amalgamated compa .....

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respect of the original shares determined in accordance with this rule the same proportion as the net book value of the assets transferred in a demerger bears to the net worth of the demerged company immediately before such demerger. (5) The amount .....

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