{"id":250729,"date":"2021-07-03T18:21:49","date_gmt":"2021-07-03T12:51:49","guid":{"rendered":"https:\/\/www.scconline.com\/blog\/?p=250729"},"modified":"2021-07-03T18:20:59","modified_gmt":"2021-07-03T12:50:59","slug":"income-tax-amendment-18th-amendment-rules-2021","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2021\/07\/03\/income-tax-amendment-18th-amendment-rules-2021\/","title":{"rendered":"Income tax Amendment (18th Amendment), Rules, 2021"},"content":{"rendered":"<p style=\"text-align: justify;\">The Central Board of Direct Taxes has notified <a href=\"https:\/\/egazette.nic.in\/WriteReadData\/2021\/228084.pdf\">Income Tax Amendment (18<sup>th<\/sup> Amendment), Rules, 2021<\/a> on July 2, 2021. It further amends the Income-tax Rules, 1962 in the following manner:<\/p>\n<ul style=\"text-align: justify;\">\n<li>In rule 8AA, after sub-rule (4), the following sub-rule shall be inserted, namely:-<\/li>\n<\/ul>\n<p style=\"text-align: justify; padding-left: 40px;\">(5). In case of the amount which is chargeable to income-tax as income of specified entity under subsection (4) of section 45 under the head \u2015Capital gains-<\/p>\n<ol>\n<li style=\"list-style-type: none;\">\n<ol style=\"text-align: justify;\">\n<li>the amount or a part of it shall be deemed to be from transfer of short term capital asset, if it is attributed to,-<\/li>\n<li>capital asset which is short term capital asset at the time of taxation of amount under subsection (4) of section 45; or<\/li>\n<li>capital asset forming part of block of asset; or<\/li>\n<li>capital asset being self-generated asset and self-generated goodwill as defined in clause (ii) of Explanation 1 to sub-section (4) of section 45; and<\/li>\n<li>the amount or a part of it shall be deemed to be from transfer of long term capital asset or assets, if it is attributed to capital asset which is not covered by clause (i) and is long term capital asset at the time of taxation of amount under sub-section (4) of section 45.<\/li>\n<\/ol>\n<\/li>\n<\/ol>\n<ul style=\"text-align: justify;\">\n<li>After rule 8AA, the following rule shall be inserted, namely:\u2014<\/li>\n<\/ul>\n<p style=\"text-align: justify; padding-left: 40px;\">\u201c8AB. Attribution of income taxable under sub-section (4) of section 45 to the capital assets remaining with the specified entity, under section 48.-<\/p>\n<ul style=\"text-align: justify;\">\n<li>For the purposes of clause (iii) of section 48, where the amount is chargeable to income-tax as income of specified entity under sub-section (4) of section 45, the specified entity shall attribute such amount to capital asset remaining with the specified entity in a manner provided in this rule.<\/li>\n<li>Where the aggregate of the value of money and 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 the amount charged under sub-section (4) of section 45 the same proportion as the increase in, or recognition of, value of that asset because of revaluation or valuation bears to the aggregate of increase in, or recognition of, value of all assets because of the revaluation or valuation.<\/li>\n<li>Where the aggregate of the value of money and 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, charged to tax under sub-section (4) of section 45 does not relate to revaluation of any capital asset or valuation of selfgenerated asset or self-generated goodwill, of 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.<\/li>\n<li>Notwithstanding anything contained in sub-rules (2) or (3), where the aggregate of the value of money and 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, 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.<\/li>\n<li>The specified entity shall furnish the details of amount attributed to capital asset remaining with the specified entity in Form No. 5C.<\/li>\n<li>Form No. 5C shall be furnished electronically either under digital signature or through electronic verification code and shall be verified by the person who is authorised to verify the return of income of the specified entity under section 140.<\/li>\n<li>Form No. 5C shall be furnished on or before the due date referred to in the Explanation 2 below subsection (1) of section 139 for the assessment year in which the amount is chargeable to tax under subsection (4) of section 45.<\/li>\n<li>The Principal Director General of Income-tax (Systems) or the Director General of Income-tax (Systems), as the case may be, shall \u2013<\/li>\n<\/ul>\n<ol>\n<li style=\"list-style-type: none;\">\n<ol style=\"text-align: justify;\">\n<li>specify the procedure for filing of Form No. 5C;<\/li>\n<li>specify the procedure, format, data structure, standards and manner of generation of electronic verification code, referred to in sub-rule (6), for verification of the person furnishing the said Form; and<\/li>\n<\/ol>\n<\/li>\n<\/ol>\n<ul style=\"text-align: justify;\">\n<li>be responsible for formulating and implementing appropriate security, archival and retrieval policies in relation to the Form No 5C so furnished.<\/li>\n<\/ul>\n<p style=\"text-align: justify;\">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.<\/p>\n<p style=\"text-align: justify;\">Explanation 2: For the removal of doubt it is clarified that revaluation of an asset or valuation of selfgenerated asset or self-generated goodwill does not entitle the specified entity for the depreciation on the increase in value of that asset on account of its revaluation or recognition of the value of self-generated asset or self-generated goodwill due to its valuation.<\/p>\n<p style=\"text-align: justify;\">Explanation 3: For the purposes of this rule, the expressions \u2015self-generated asset and self-generated goodwill shall have the same meaning as assigned to them in clause (ii) of Explanation 1 to sub-section(4) of section 45.\u201d<\/p>\n<p>&nbsp;<\/p>\n<hr \/>\n<p><span style=\"color: #000080;\">*Tanvi Singh, Editorial Assistant has put this story together.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Central Board of Direct Taxes has notified Income Tax Amendment (18th Amendment), Rules, 2021 on July 2, 2021. It further amends <\/p>\n","protected":false},"author":121,"featured_media":217262,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[4,15],"tags":[],"class_list":["post-250729","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-legislationupdates","category-rules_regulations"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.4 (Yoast SEO v26.4) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Income tax Amendment (18th Amendment), Rules, 2021 | SCC Times<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.scconline.com\/blog\/post\/2021\/07\/03\/income-tax-amendment-18th-amendment-rules-2021\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Income tax Amendment (18th Amendment), Rules, 2021\" \/>\n<meta property=\"og:description\" content=\"The Central Board of Direct Taxes has notified Income Tax Amendment (18th Amendment), Rules, 2021 on July 2, 2021. It further amends\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.scconline.com\/blog\/post\/2021\/07\/03\/income-tax-amendment-18th-amendment-rules-2021\/\" \/>\n<meta property=\"og:site_name\" content=\"SCC Times\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/scc.online\/\" \/>\n<meta property=\"article:published_time\" content=\"2021-07-03T12:51:49+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/07\/TAX_NEW.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1330\" \/>\n\t<meta property=\"og:image:height\" content=\"887\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Prachi Bhardwaj\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Prachi Bhardwaj\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.scconline.com\/blog\/post\/2021\/07\/03\/income-tax-amendment-18th-amendment-rules-2021\/\",\"url\":\"https:\/\/www.scconline.com\/blog\/post\/2021\/07\/03\/income-tax-amendment-18th-amendment-rules-2021\/\",\"name\":\"Income tax Amendment (18th Amendment), Rules, 2021 | SCC Times\",\"isPartOf\":{\"@id\":\"https:\/\/www.scconline.com\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.scconline.com\/blog\/post\/2021\/07\/03\/income-tax-amendment-18th-amendment-rules-2021\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.scconline.com\/blog\/post\/2021\/07\/03\/income-tax-amendment-18th-amendment-rules-2021\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/07\/TAX_NEW.jpg\",\"datePublished\":\"2021-07-03T12:51:49+00:00\",\"author\":{\"@id\":\"https:\/\/www.scconline.com\/blog\/#\/schema\/person\/de579aff4bc6dd24b68d6d472ac92942\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.scconline.com\/blog\/post\/2021\/07\/03\/income-tax-amendment-18th-amendment-rules-2021\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.scconline.com\/blog\/post\/2021\/07\/03\/income-tax-amendment-18th-amendment-rules-2021\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.scconline.com\/blog\/post\/2021\/07\/03\/income-tax-amendment-18th-amendment-rules-2021\/#primaryimage\",\"url\":\"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/07\/TAX_NEW.jpg\",\"contentUrl\":\"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/07\/TAX_NEW.jpg\",\"width\":1330,\"height\":887},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.scconline.com\/blog\/post\/2021\/07\/03\/income-tax-amendment-18th-amendment-rules-2021\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.scconline.com\/blog\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Income tax Amendment (18th Amendment), Rules, 2021\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.scconline.com\/blog\/#website\",\"url\":\"https:\/\/www.scconline.com\/blog\/\",\"name\":\"SCC Times\",\"description\":\"Bringing you the Best Analytical Legal News\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.scconline.com\/blog\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.scconline.com\/blog\/#\/schema\/person\/de579aff4bc6dd24b68d6d472ac92942\",\"name\":\"Prachi Bhardwaj\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.scconline.com\/blog\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/04\/Prachi-Image2-150x150.png\",\"contentUrl\":\"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/04\/Prachi-Image2-150x150.png\",\"caption\":\"Prachi Bhardwaj\"},\"description\":\"Senior Associate Editor\",\"url\":\"https:\/\/www.scconline.com\/blog\/post\/author\/editor_3\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Income tax Amendment (18th Amendment), Rules, 2021 | SCC Times","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.scconline.com\/blog\/post\/2021\/07\/03\/income-tax-amendment-18th-amendment-rules-2021\/","og_locale":"en_US","og_type":"article","og_title":"Income tax Amendment (18th Amendment), Rules, 2021","og_description":"The Central Board of Direct Taxes has notified Income Tax Amendment (18th Amendment), Rules, 2021 on July 2, 2021. It further amends","og_url":"https:\/\/www.scconline.com\/blog\/post\/2021\/07\/03\/income-tax-amendment-18th-amendment-rules-2021\/","og_site_name":"SCC Times","article_publisher":"https:\/\/www.facebook.com\/scc.online\/","article_published_time":"2021-07-03T12:51:49+00:00","og_image":[{"width":1330,"height":887,"url":"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/07\/TAX_NEW.jpg","type":"image\/jpeg"}],"author":"Prachi Bhardwaj","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Prachi Bhardwaj","Est. reading time":"5 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.scconline.com\/blog\/post\/2021\/07\/03\/income-tax-amendment-18th-amendment-rules-2021\/","url":"https:\/\/www.scconline.com\/blog\/post\/2021\/07\/03\/income-tax-amendment-18th-amendment-rules-2021\/","name":"Income tax Amendment (18th Amendment), Rules, 2021 | SCC Times","isPartOf":{"@id":"https:\/\/www.scconline.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.scconline.com\/blog\/post\/2021\/07\/03\/income-tax-amendment-18th-amendment-rules-2021\/#primaryimage"},"image":{"@id":"https:\/\/www.scconline.com\/blog\/post\/2021\/07\/03\/income-tax-amendment-18th-amendment-rules-2021\/#primaryimage"},"thumbnailUrl":"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/07\/TAX_NEW.jpg","datePublished":"2021-07-03T12:51:49+00:00","author":{"@id":"https:\/\/www.scconline.com\/blog\/#\/schema\/person\/de579aff4bc6dd24b68d6d472ac92942"},"breadcrumb":{"@id":"https:\/\/www.scconline.com\/blog\/post\/2021\/07\/03\/income-tax-amendment-18th-amendment-rules-2021\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.scconline.com\/blog\/post\/2021\/07\/03\/income-tax-amendment-18th-amendment-rules-2021\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.scconline.com\/blog\/post\/2021\/07\/03\/income-tax-amendment-18th-amendment-rules-2021\/#primaryimage","url":"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/07\/TAX_NEW.jpg","contentUrl":"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/07\/TAX_NEW.jpg","width":1330,"height":887},{"@type":"BreadcrumbList","@id":"https:\/\/www.scconline.com\/blog\/post\/2021\/07\/03\/income-tax-amendment-18th-amendment-rules-2021\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.scconline.com\/blog\/"},{"@type":"ListItem","position":2,"name":"Income tax Amendment (18th Amendment), Rules, 2021"}]},{"@type":"WebSite","@id":"https:\/\/www.scconline.com\/blog\/#website","url":"https:\/\/www.scconline.com\/blog\/","name":"SCC Times","description":"Bringing you the Best Analytical Legal News","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.scconline.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.scconline.com\/blog\/#\/schema\/person\/de579aff4bc6dd24b68d6d472ac92942","name":"Prachi Bhardwaj","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.scconline.com\/blog\/#\/schema\/person\/image\/","url":"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/04\/Prachi-Image2-150x150.png","contentUrl":"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/04\/Prachi-Image2-150x150.png","caption":"Prachi Bhardwaj"},"description":"Senior Associate Editor","url":"https:\/\/www.scconline.com\/blog\/post\/author\/editor_3\/"}]}},"jetpack_featured_media_url":"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/07\/TAX_NEW.jpg","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":250941,"url":"https:\/\/www.scconline.com\/blog\/post\/2021\/07\/08\/income-tax-amendment-19th-amendment-rules-2021\/","url_meta":{"origin":250729,"position":0},"title":"New Rule for computation of short term capital gains and written down value, introduced","author":"Bhumika Indulia","date":"July 8, 2021","format":false,"excerpt":"On July 07, 2021, the Central Board of Direct Taxes makes the Income tax Amendment (19th Amendment), Rules, 2021 further to amend the Income-tax Rules,1962. \u00a0 In the Income-tax Rules, 1962, the following rules shall be inserted, namely:\u2014 \u201c8AC. Computation of short term capital gains and written down value under\u2026","rel":"","context":"In &quot;Legislation Updates&quot;","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/07\/TAX_NEW.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/07\/TAX_NEW.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/07\/TAX_NEW.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/07\/TAX_NEW.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/07\/TAX_NEW.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":247842,"url":"https:\/\/www.scconline.com\/blog\/post\/2021\/05\/04\/income-tax-14th-amendment-rules-2021\/","url_meta":{"origin":250729,"position":1},"title":"Income-tax (14th Amendment) Rules, 2021","author":"Bhumika Indulia","date":"May 4, 2021","format":false,"excerpt":"The Central Board of Direct Taxes makes the Income-tax (14th Amendment) Rules, 2021 to amend the Income-tax Rules, 1962. In the Income-tax Rules, 1962, the following sub rule shall be inserted in rule 114AAB relating to Class or classes of person to whom provisions of section 139A shall not apply.\u2026","rel":"","context":"In &quot;Legislation Updates&quot;","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/09\/Parliament_Colour.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/09\/Parliament_Colour.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/09\/Parliament_Colour.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/09\/Parliament_Colour.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/09\/Parliament_Colour.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":248685,"url":"https:\/\/www.scconline.com\/blog\/post\/2021\/05\/25\/cbdt-notifies-computation-of-fair-market-value-of-capital-assets-under-income-tax-16th-amendment-rules-2021\/","url_meta":{"origin":250729,"position":2},"title":"CBDT notifies computation of Fair Market Value of Capital Assets under Income Tax (16th Amendment) Rules, 2021","author":"Prachi Bhardwaj","date":"May 25, 2021","format":false,"excerpt":"The Central Board of Direct Taxes vide Notification No. 68\/2021 dated 24.05.2021 has notified Income tax (16th Amendment) Rules, 2021 to further to amend the Income tax Rules, 1962. The Amendment inserts Rule 11UAE in Income-tax Rules which prescribes the method to compute fair market value of capital asset for\u2026","rel":"","context":"In &quot;Legislation Updates&quot;","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":142171,"url":"https:\/\/www.scconline.com\/blog\/post\/2017\/07\/14\/rules-to-determine-fair-market-value-of-unquoted-shares-notified\/","url_meta":{"origin":250729,"position":3},"title":"Rules to determine fair market value of unquoted shares notified","author":"Saba","date":"July 14, 2017","format":false,"excerpt":"G.S.R. 865(E).-In exercise of the powers conferred by Section 50CA\u00a0and\u00a0sub-section (2) of Section 56\u00a0read with Section 295\u00a0of the\u00a0Income Tax Act, 1961 ( 43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the\u00a0Income Tax Rules, 1962, namely:- 1. (1) These rules may be\u2026","rel":"","context":"In &quot;Legislation Updates&quot;","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":255152,"url":"https:\/\/www.scconline.com\/blog\/post\/2021\/10\/04\/cbdt-notifies-income-tax-31st-amendment-rules-2021\/","url_meta":{"origin":250729,"position":4},"title":"CBDT notifies Income Tax (31st Amendment) Rules, 2021","author":"Prachi Bhardwaj","date":"October 4, 2021","format":false,"excerpt":"The Central Board of Direct Taxes notified the Income Tax (31st Amendment) Rules, 2021 which seeks to further amend Income Tax Rules, 1962. Key changes brought by the amendment are as follows: \u00a0 The 31st Amendment Rules, 2021 has introduced new Rules 11UE and 11UF, after Rule UD for provisions\u2026","rel":"","context":"In &quot;Legislation Updates&quot;","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"CBDT","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/08\/MicrosoftTeams-image-159-1.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/08\/MicrosoftTeams-image-159-1.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/08\/MicrosoftTeams-image-159-1.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/08\/MicrosoftTeams-image-159-1.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/08\/MicrosoftTeams-image-159-1.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":377650,"url":"https:\/\/www.scconline.com\/blog\/post\/2026\/03\/07\/finance-ministry-notified-income-tax-amendment-rules-2026-explained\/","url_meta":{"origin":250729,"position":5},"title":"Income Tax (Amendment) Rules, 2026: Key Changes to Rules 114-F, 114-G and 114-H","author":"Shubhi","date":"March 7, 2026","format":false,"excerpt":"Finance Ministry has notified the Income Tax (Amendment) Rules, 2026, aligning tax reporting framework with evolving global standards for digital assets, electronic-money instruments, and CBDCs.","rel":"","context":"In &quot;Legislation Updates&quot;","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"Income Tax Amendment Rules","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2026\/03\/Income-Tax-Amendment-Rules.webp?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2026\/03\/Income-Tax-Amendment-Rules.webp?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2026\/03\/Income-Tax-Amendment-Rules.webp?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2026\/03\/Income-Tax-Amendment-Rules.webp?resize=700%2C400&ssl=1 2x"},"classes":[]}],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/250729","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/users\/121"}],"replies":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/comments?post=250729"}],"version-history":[{"count":0,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/250729\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/media\/217262"}],"wp:attachment":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/media?parent=250729"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/categories?post=250729"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/tags?post=250729"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}