Section 3(8)(b) in Income Tax Rules, 1962

[Cites 0, Cited by 0] [Section 3(8)] [Section 3] [Entire Act]

Union of India - Subsection

Section 3(8)(b) in Income Tax Rules, 1962

(b)the closing price of the share on a recognised stock exchange, which records the highest volume of trading in such share, if the closing price, as on the date closest to the date of exercising of the option and immediately preceding such date, is recorded on more than one recognized stock exchange.

(iii)In a case where, on the date of exercising of the option, the share in the company is not listed on a recognised stock exchange, the fair market value shall be such value of the share in the company as determined by a merchant banker on the specified date.

(iv)For the purpose of this sub-rule,-

Legal Document View

Unlock Advanced Research with PRISMAI

Union of India - Subsection

Section 3(8)(b) in Income Tax Rules, 1962