The Central Board of Direct Taxes (CBDT) has issued a new notification clarifying that the provisions of Sec. 56(2)(viib) shall not apply to consideration received by a company for issue of shares that exceeds the face value of such shares, if the said consideration has been received by a company which fulfils the conditions as specified in the para 4 of DPIIT notification dated 19-02-2019.
from taxmann.com News https://www.taxmann.com/topstories/222330000000018098/co’s-fulfilling-conditions-of-‘angel-tax-notification’-eligible-for-sec-562viib-relief-cbdt.aspx
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