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Sir,How to approach sec 56(2)(viib) on coming exam, after the Amendment of Finance Act,2019


Sibil Rehman

Sibil Rehman

CA Inter

23K+

27-Jun-20 20:31

11

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Best Answer

If company fails to comply conditions specified then consideration in excess of FMV shall be deemed to be the income and also deemed that company has under reported the said income under 270A misreporting of income for more details of conditions please refer amendments


KEERTHI PRIYA

KEERTHI PRIYA

Moderator

28-Jun-20 18:17

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