X Ltd. is a public limited company, but the shares of the company are not listed. It issued shares at a price of ₹ 60. The face value of the share is ₹ 10 per share and the fair market value is ₹ 80 the amount taxable u/s 56(2)(viib) per share would be:
A. ₹60
B. ₹10
C. ₹ 50
D. Nil
Answer:D
X Ltd. is a public limited company, but the shares of the company are not listed. It issued shares at a price of ₹ 60. The face value of the share is ₹ 10 per share and the fair market value is ₹ 80 the amount taxable u/s 56(2)(viib) per share would be:
A. ₹60 B. ₹10 C. ₹ 50 D. Nil