Rule-11UAA (of Income Tax Rules, 1962), Determination of Fair Market Value for share other than quoted share
Rule-11UAA (of Income Tax Rules, 1962), Determination of Fair Market Value for share other than quoted share
Determination of Fair Market Value for share other than quoted share.
For the purposes of section 50CA (of Income Tax Act, 1961), the fair market value of the share of a company other than a quoted share, shall be determined in the manner provided in sub-clause (b) or sub-clause (c),as the case may be, of clause (c) of sub-rule (1) of rule 11UA (of Income Tax Rules, 1962) and for this purpose the reference to valuation date in the rule 11U (of Income Tax Rules, 1962) and rule 11UA (of Income Tax Rules, 1962) shall mean the date on which the capital asset, being share of a company other than a quoted share, referred to in section 50CA (of Income Tax Act, 1961), is transferred.
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