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Income Tax - Highlights / Catch Notes

Home Highlights December 2014 Year 2014 This

The amount of forfeited share application money transferred to ...

Income Tax

December 4, 2014

The amount of forfeited share application money transferred to “warrant, forfeiture account” in the capital reserve, is a capital receipt only and cannot be taxed as income of the assessee, either u/s 28(iv) or u/s 41(1) - AT

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