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Class 12 Tuition > Learn Commerce > What is the nature of receipt of premium on issue of...
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What is the nature of receipt of premium on issue of shares?

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Preimum recevied on issuse of shar is a capital receipt. It show under reseveres and surplus head of liablities side of balance sheet. This amount will be used only for specific purposes as defined under companies act.
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Receipt of premium on issue of shares is a Capital Receipt. Capital receipts are exempt from tax.
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