# amendments to angel tax
1 posts in `amendments to angel tax` tag
CBDT proposes changes to Rule 11UA
To bring the consideration received from non-residents for the issuance of shares under the purview of section 56(2)(viib) of the Income-tax Act, 1961 (the Act), which states that if the consideration for the issuance of shares exceeds the Fair Market Value (FMV) of the shares, it shall be chargeable to income-tax under the head “Income from other sources,” an amendment has been made to the Finance Act, 2023.
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By Krishna
