RULE 54 INCOME-TAX RULES 2026 Form of report of an accountant in respect of slump sale. 54. In case of a slump sale under section 77(4), every assessee is required to submit a report from an accountant as defined in section 515(3)(b), in Form No. 28 before the specified date referred to in section 63. *******************… Read More »
RULE 53 INCOME-TAX RULES 2026 RULE 53 INCOME-TAX RULES 2026 Computation of fair market value of capital assets for purposes of section 77. 53. (1) For the purposes of section 77(3)(b), the fair market value of the capital assets shall be the FMV1 determined under sub-rule (2) or FMV2 determined under sub-rule (3), whichever is higher.… Read More »
RULE 52 INCOME-TAX RULES 2026 RULE 52 INCOME-TAX RULES 2026 Rate of exchange for conversion of rupees into foreign currency and reconversion of foreign currency into rupees for purpose of computation of capital gains under section 72. 52. (1) For the purpose of computing capital gains arising from the transfer of a capital asset being shares… Read More »
RULE 51 INCOME-TAX RULES 2026 Other conditions required to be fulfilled by the original fund. 51. (1) For the purposes of section 70(2) [Table: Sl. No. 5, C(a)(A)(iv)], the original fund, in a case where a capital asset is transferred to a resultant fund being a Category III Alternative Investment Fund, shall fulfil the condition that… Read More »
RULE 50 INCOME-TAX RULES 2026 RULE 50 INCOME-TAX RULES 2026 Attribution of income taxable under section 67(10) to capital assets remaining with the specified entity, under section 72. 50. (1) For the purposes of section 72(5), the amount chargeable to income-tax as income of specified entity under section 67(10), shall be attributed to capital asset remaining… Read More »
RULE 49 INCOME-TAX RULES 2026 RULE 49 INCOME-TAX RULES 2026 Computation of capital gains for purposes of section 67(5). 49. (1) If a person receives any amount under a specified unit-linked insurance policy, including any bonus allocated on such policy, then the capital gains arising from receipt of such amount in situations referred in column B… Read More »
RULE 48 INCOME-TAX RULES 2026 Other electronic modes of payment. 48. For the purposes of Schedule VIII [Table: Sl. No. 1. D(d)], section 66(32), section 146(5)(a)(ii)(B), sections 185, 186 and 188, the other electronic modes of payment shall be the following:— (a) Credit card; (b) Debit card; (c) Net banking; (d) IMPS (Immediate Payment Service); (e)… Read More »
RULE 47 INCOME-TAX RULES 2026 Report of audit of accounts to be furnished under section 63. 47. (1) The report of audit of the accounts of a person required to be furnished under section 63 shall,— (a) in the case of a person who carries on business or profession and who is required by or under… Read More »
RULE 46 INCOME-TAX RULES 2026 RULE 46 INCOME-TAX RULES 2026 Maintenance of books of account under section 62. 46. (1) Every person required to keep and maintain books of account and other documents under section 62(1)(b) shall maintain such books of account and other documents that enable the Assessing Officer to compute his total income under… Read More »
RULE 45INCOME-TAX RULES 2026 Conditions to be fulfilled by a resident company for purposes of section 61(2) [Table: Sl. No. 6]. 45. (1) For the purposes of section 61(2) [Table: Sl. No. 6], a resident company shall,— (a) be establishing or operating electronics manufacturing facility or a connected facility for manufacturing or producing electronic goods, article… Read More »