Webb7 aug. 2024 · It was decided to pay Rs. 10,000 in cash and balance paid by issue of shares of Rs. 10 each Issued at premium of 20%. No. of shares to be issued to Vishal Co-(a) 5400 (b) 4500 (c) 6000 (d) None of these. 19. Premium on issue of shares is– (a) Revenue profit (b) Revenue Loss (c) Capital Gain (d) Capital Loss. 20. Right shares are issued to ... Webb30,000 equity shares of ` 10 each at a premium of ` 2/- per share. Out of the proceeds, preference shares were redeemed, balance being met out of the General Reserve which stood at ` 2,50,000. The company then declared the bonus issue of 20,000 ordinary shares to the existing ordinary shareholders out of reserve created for redemption purpose.
What is a Share Premium 1st Formations
Webb13 dec. 2024 · The share premium account is a reserve account whose funds cannot be used for just any purpose. Instead, the funds in the share premium account can only be … Webb28 sep. 2024 · Rameshwaram Strong Glass (P) Ltd. v The Income Tax Officer[1] has upheld the right of the company issuing shares to choose the valuation methodology under the provisions of the Income Tax Act, 1961 ( IT Act) read with the rules framed thereunder ( Tax Law) for the purposes of determining the ‘fair market value’ ( FMV) of such shares at … flush ceiling projector screen
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Webb11 apr. 2024 · (1) No company limited by shares shall, after the commencement of this Act, issue any preference which are irredeemable. (2) A may, if so authorised by its , issue preference shares which are liable to be redeemed within a period not exceeding twenty years from the date of their issue subject to such conditions Provided that … Continue … WebbA company’s issues share capital is the total value expressed as a currency amount of the consideration received by the company in respect of the allotment of shares of the company and the sums in its share premium account, capital conversion reserve fund and capital redemption reserve fund. Undenominated capital refers to capital in excess ... Webb22 mars 2024 · Issue of Equity Shares at Premium attracts Section 56 (2) (viib) of the Income Tax Act unless it’s a Start-up registered under DPIIT. As per Section 56 (2) (viib) of Income Tax Act – if Company issues shares at a premium or consideration in excess of the FMV (Fair Market Value) then such Excess is treated as the Income of the Company and ... greenfingers charity website