Chartered Accountants can’t determine FMV of unquoted equity shares : CBDT Notification
CA’s Chartered Accountants not to determine FMV of unquoted equity shares received by a company without adequate consideration-CBDT Notification Section 56(2) of the Income tax Act, 1961. creates a deeming fiction for bringing certain receipts/transactions within the scope of taxable income. (b) Under the provisions of clause (viia) to section 56(2), where a firm or… Read More »