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Amount received by the company in respect of issue of share

Rule 40BB - Special Provisions Relating to Tax on Distributed income of Domestic Company for Buy-Back of Shares - Income Tax - Rule 40BB - 1[PART VII-BA Special Provisions Relating to Tax on Distributed income of Domestic Company for Buy-Back of Shares 40BB. . (1) For the purposes of clause (ii) of the Explanation to sub-section (1) of section 115QA, the amount received by a company in respect of the share issued by it, being the subject matter of buy-back referred to in the said section, shall .....

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o returned shall be the amount received by the company for issue of said share: Provided that if the sum or any part of it so returned was chargeable to additional income- tax under section 115-O and the company has paid such additional income tax then such sum or part thereof, as the case may be, shall not be reduced. (4) Where the share has been issued by a company under any plan or scheme under which an employees stock option has been granted or as part of sweat equity shares, the fair market .....

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n amalgamated company, under a scheme of amalgamation, in lieu 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 company in respect of the share so issued by it. (6) The amount received by a company, being a resulting company in respect of shares issued by it under a scheme of demerger, shall be the amount .....

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share has been issued or allotted by the company as part of consideration for acquisition of any asset or settlement of any liability then the amount received by the company for issue of such share shall be determined in accordance with the following formula- Amount received = A/B Where, A= an amount being lower of the following amounts- (a) the amount which bears to the fair market value of the asset or the liability, as determined by a merchant banker, the same proportion as the part of consi .....

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b-rule (8) of rule 3. (9) Where the shares have been issued or allotted by a company on succession or conversion, as the case may be, of a firm into the company or succession of sole proprietary concern by the company, then the amount received by the company for issue of shares shall be determined in accordance with the following formula- Amount received = A-B/C A= book value of the assets in the balance-sheet as reduced by any amount of tax paid as deduction or collection at source or as advanc .....

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