Re: [aaykarbhavan] Query on Sec 56(2)(viia) & Rule 11UA

There should not be any problem. Moreover amount received from German Company being Non resident is not hit by section 56(2)(viia).
Regds
Sharad Khandelwal


On Wed, 5/11/14, madhu tapuriah tapuriahmadhu@yahoo.co.in [aaykarbhavan] <aaykarbhavan@yahoogroups.com> wrote:


Subject: [aaykarbhavan] Query on Sec 56(2)(viia) & Rule 11UA
To: "aaykarbhavan@yahoogroups.com" <aaykarbhavan@yahoogroups.com>
Date: Wednesday, 5 November, 2014, 12:36 PM


 










A company has been incorporated in India in Feb
2014 wherein 51 % equity capital is subscribed by a German
Co and rest 49 % is subscribed by indian promoters. Thus it
is a foreign company.
The
company so incorporated has received contribution toward
equity capital in June 2014 from the German co & Indian
promoters in the ratio of 51:49 respectively.The shares are
now being allotted as right shares against such
contribution.
The shares
must be allotted on the basis of valuation of future cash
flows on DCF method as per FEMA guidelines. Thus the shares
shall be allotted on premium since the DCF method
calculation suggest so.
My query
is whether Sec 56(2)(viib) and Rule 11UA are duly complied
by obtaining the CA certificate for DCF Method of valuation
of shares under FEMA and whether the AO shall not raise any
query on the premium so charged ?
Answers
& suggetions on above query shall be
obliging.
CA M S
Tapuriah

  












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------------------------------------
Posted by: sharad khandelwal <sharadkhandelwalpune@yahoo.co.in>
------------------------------------

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