TMI BlogIncome-tax (20th Amendment), Rules, 2017 - Determination of fair market value of unquoted equity shares and other than a quoted shareX X X X Extracts X X X X X X X X Extracts X X X X ..... 865(E).- 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 (20th Amendment), Rules, 2017. (2) They shall come ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f 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 valuation report obtained from a registered valuer; C = fair market value of shares and securities as determined in the manner provi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 provisions made for meeting liabilities, other than ascertained liabilities; (vi) any amount representing contingent liabilities other than arrears of dividends payable in r ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s transferred. . [F. No. 149/136/2014-TPL] PRAVIN RAWAL, Director (Tax Policy and Legislation) Note: The principal rules were published in the Gazette of India Extraordinary, part III, section 3, sub-section (i), vide notification number S.O. 969(E), dated the, 26th March, 1962 and were last amended vide notification number G.S.R.No.826(E) dated the 4th July, 2017 . - Notifica ..... X X X X Extracts X X X X X X X X Extracts X X X X
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