. . Cash credits- Share application money – Tax Questions and Answers

catchwords: Cash credits- Share application money

  • Cash credits- Share application money

    AO has right to make addition of share application money received by the assessee in very first year of incorporation, irrespective of the fact, whether the assessee has done business or not, on the basis of proviso inserted by the Finance Act, 2012 w.e.f. April 1, 2013 i.e., assessment year 2013-14.