📝 Multiple Choice Question
Economics
Section 56 (2) (vii B) in the Income Tax Act is referred to as:
A
Normal Investments
B
Angel Fund
C
Normal Taxing
D
Angel Tax
Explanation
Colloquially known as the "Angel Tax," Section 56(2)(viib) levies a tax on closely held companies when they issue shares to resident investors at a price exceeding fair market value.
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