Which of the following statements is/are correct about Equalization Levy? 1. It refers to the income tax payable on capital raised by unlisted companies via issue of shares where the share price is seen in excess of the fair market value of the shares sold. 2. Equalisation Levy is a direct tax, which is withheld at the time of payment by the service recipient. Select the correct answer using the codes given below: - Study24x7
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Which of the following statements is/are correct about Equalization Levy? 1. It refers to the income tax payable on capital raised by unlisted companies via issue of shares where the share price is seen in excess of the fair market value of the shares sold. 2. Equalisation Levy...

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A

1 only

B

2 only

C

Both 1 and 2

D

Neither 1 nor 2

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