Agni (P.) Ltd. issued equity shares of ₹ 10 each at ₹ 40 per share. The fair market value of the share on the date of issue was ascertained as ₹ 25 per share. The company issued 1,00,000 equity shares. The amount liable to tax in the hands of the company would be:

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Question:Agni (P.) Ltd. issued equity shares of ₹ 10 each at ₹ 40 per share. The fair market value of the share on the date of issue was ascertained as ₹ 25 per share. The company issued 1,00,000 equity shares. The amount liable to tax in the hands of the company would be:

1. ₹ 15,00,000

2. ₹ 30,00,000

3. Nil

4.₹ 40,00,000

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  1. Agni (P.) Ltd. issued equity shares of ₹ 10 each at ₹ 40 per share. The fair market value of the share on the date of issue was ascertained as ₹ 25 per share. The company issued 1,00,000 equity shares. The amount liable to tax in the hands of the company would be:
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