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Rule 8AB - Attribution of income taxable under sub-section (4) of section 45 to the capital assets remaining with the specified entity, under section 48 - Income-tax Rules, 1962

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..... d the fair market value of the capital asset received by the specified person from the specified entity, in excess of the balance in his capital account, chargeable to tax under sub-section (4) of section 45,relates to revaluation of any capital asset or valuation of self-generated asset or self-generated goodwill, of the specified entity, the amount attributable to the capital asset remaining with the specified entity for purpose of clause (iii) of section 48 shall be the amount which bears to .....

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Rule 8AB - Attribution of income taxable under sub-section (4) of section 45 to the capital assets remaining with the specified entity, under section 48 - Income-tax Rules, 1962

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..... by the specified person from the specified entity, in excess of the balance in his capital account, charged to tax under sub-section (4) of section 45 relate only to the capital asset received by the specified person from the specified entity, the amount charged to tax under sub-section (4) of section 45 shall not be attributed to any capital asset for the purposes of clause (iii) of section 48. (5) The specified entity shall furnish the details of amount attributed to capital asset remaining w .....

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Rule 8AB - Attribution of income taxable under sub-section (4) of section 45 to the capital assets remaining with the specified entity, under section 48 - Income-tax Rules, 1962

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..... chival and retrieval policies in relation to the Form No 5C so furnished. Explanation 1: For the purposes of this rule, the amount chargeable to tax under sub-section (4) of section 45 shall relate to revaluation of any capital asset or valuation of self-generated asset or self-generated goodwill, of the specified entity, if the revaluation is based on a valuation report obtained from a registered valuer as defined in clause (g) of rule 11U. Explanation 2: For the removal of doubt it is clarifie .....

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Rule 8AB - Attribution of income taxable under sub-section (4) of section 45 to the capital assets remaining with the specified entity, under section 48 - Income-tax Rules, 1962

X X   X X   Extracts   X X   X X

 

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