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Draft rules relating to valuation of unquoted equity share for the purposes of section 56 and section 50CA of the Income-tax Act 1961

News and Press Release - Dated:- 5-5-2017 - Draft Notification INCOME-TAX In exercise of the powers conferred by section 50CA and sub-section 2 of section 56 read with section 295 of the Income-tax Act, 1961 ( 43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely:- 1. (1) These rules may be called the Income-tax ( th Amendment), Rules, 2017. (2) They shall come into force from the 1st day of April, 2018 and shall apply .....

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mes; (PV)/(PE) where, A= book value of all the assets (other than jewellery, artistic work, shares, securities and immovable property) as reduced by,- (i) any amount of income-tax paid, if any, less the amount of income-tax refund claimed, if any, and (ii) any amount shown as asset including the unamortised amount of deferred expenditure which does not represent the value of any asset; B = the price which the jewellery and artistic work would fetch if sold in the open market on the basis of the .....

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