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Direct Taxation

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


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No More exist

CA Inter

24K+

27-Jun-20 20:31

336

Answers (2)

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

CA Inter

695

28-Jun-20 18:17

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