The shares of Y. Ltd. a public Co. in which the public is not substantially interested were issued for ₹ 18 per share to Mr. X resident whereas the face value was ₹ 10 and FMV ₹ 15. The amount taxable would be.
A. ₹ 18
B. ₹ 15
C. ₹ 10
D. ₹ 3
Answer:D
The shares of Y. Ltd. a public Co. in which the public is not substantially interested were issued for ₹ 18 per share to Mr. X resident whereas the face value was ₹ 10 and FMV ₹ 15. The amount taxable would be.
A. ₹ 18 B. ₹ 15 C. ₹ 10 D. ₹ 3