ISSUE OF SHARES AT PREMIUM

[pushpa]

Dear all,

   I would like to know if a newly incorporated unlisted public company can issue shares at a premium ?

[RAJESH KHANDELWAL]

yes

 

 

Thanks & Regards,

 

Rajesh Khandelwal

Mob: +91 98925 22814

 

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On Thu, Feb 14, 2013 at 2:18 PM, pushpa <push...@gmail.com> wrote:

Dear all,

   I would like to know if a newly incorporated unlisted public company can issue shares at a premium ?

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[pushpa bhimaraju]

Thanks. Whether shares can be issued at premium within one week of incorporation?? Are there any restrictions??

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Regards,

 

Pushpa

[Sankara narayanan Kailasanathan]

. The shares can be issued at premium after obtainng approval from the Board. CS P K Sankara Narayanan Contact No. 94452 45083 --- On Thu, 14/2/13, pushpa <push...@gmail.com> wrote:

[Ramaswami Mohan]

I doubt, if shares can be issued for a premium by a new incorporated co as there needs to be a share valuation to be done by a CA and there needs to be a track record. also please refer to the recent amendments to the Income Tax Rules where in it is sought to tax Premium collected more than the break up value.

views of other members welcome.

regards,

Mohan 

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CS. R.  Mohan
Mobile: 9908814677

[Sankara narayanan Kailasanathan]

Reading with Section 81 (1) of the Companies Act 1956 the shares can be issued( with premium or at par) with in two years of incorporation or with in 12 months from the date of first allotment whichever is earlier

CS P K Sankara Narayanan  Contact No. 94452 45083

--- On Thu, 14/2/13, pushpa bhimaraju <push...@gmail.com> wrote:

From: pushpa bhimaraju <push...@gmail.com> Subject: Re: [CSMysore] ISSUE OF SHARES AT PREMIUM To: csmy...@googlegroups.com

[Amit]

I have another quarry regarding allotment of shares at Premium, Is there any provission regarding determination of premium amount , actually our company has received application money via entry and management want to allot shares on the basis of premium,

My problem is how much premium amount would be decided , a new amended section is being inserted  i.e 56 (2) clause viib.

as the crux of this amended section : Premium amount is decided on the basis or fair market value of the shares, and if any premium is received over and above the fair market value shall be treated as deemed income under the Other source, and taxable in the income tax. this is the latest amemndement 

hence before allotment of shares i am trying to get revlauation of Fixed Assest i.e land and claculate the Vaue of share i.e total Assets - Current Liab, and premium if any over and above the face value up to the Value calculated i.e Faire market value.

Regards

Amit