Applicability of Section 56(2)(x) on Share received through Right Issue

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..... Applicability of Section 56(2)(x) on Share received through Right Issue
Query (Issue) Started By: - SUDHIRKUMAR SHAH Dated:- 14-2-2020 Income Tax
Income Tax
Mr. X received 25000 shares of M/ .....

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..... s ABC Private Limited at a face value of ₹ 100/- per share through right issue offer. The FMV of unquoted share of the company as on the date of issue is ₹ 200/-. per share. Whether Mr.X i .....

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..... s required to pay tax on amount of ₹ 25,00,000/- (25000 shares x100) being benefit he received through right issue u/s.56(2)(x) of Income Tax Act ?
Discussion Forum - Knowledge Sharing .....

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