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Income-tax (20th Amendment), Rules, 2017 - Determination of fair market value of unquoted equity shares and other than a quoted share

Income Tax - 61/2017 - Dated:- 12-7-2017 - MINISTRY OF FINANCE (Department of Revenue) [CENTRAL BOARD OF DIRECT TAXES] NOTIFICATION 61/2017 New Delhi, the 12th July, 2017 INCOME-TAX G.S.R. 865(E).-In exercise of the powers conferred by section 50CA a .....

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d the Income-tax (20th Amendment), Rules, 2017. (2) They shall come into force from the 1st day of April, 2018 and shall apply in relation to assessment year 2018-19 and subsequent years. 2. In the Income-tax Rules, 1962, - (A) in rule 11UA, sub-rule .....

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ng manner, namely:- the fair market value of unquoted equity shares =(A+B+C+D - L)× (PV)/(PE), where, A= book value of all the assets (other than jewellery, artistic work, shares, securities and immovable property) in the balance-sheet as reduc .....

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the price which the jewellery and artistic work would fetch if sold in the open market on the basis of the valuation report obtained from a registered valuer; C = fair market value of shares and securities as determined in the manner provided in this .....

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llowing amounts, namely:- (i) the paid-up capital in respect of equity shares; (ii) the amount set apart for payment of dividends on preference shares and equity shares where such dividends have not been declared before the date of transfer at a gene .....

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income-tax paid, if any, less the amount of income-tax claimed as refund, if any, to the extent of the excess over the tax payable with reference to the book profits in accordance with the law applicable thereto; (v) any amount representing provisio .....

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PE = total amount of paid up equity share capital as shown in the balance-sheet; (B) after rule 11UA, the following rule shall be inserted, namely:- Determination of Fair Market Value for share other than quoted share. 11UAA. For the purposes of sect .....

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