Key Terms Defined in Income Declaration Scheme Rules 2016 Include "Act," "Form," and "Recognised Stock Exchange"
The Income Declaration Scheme Rules, 2016, define key terms used within the rules. "Act" refers to the Finance Act, 2016, while "Form" denotes any form attached to these rules. A "recognised stock exchange" is defined as per the Securities Contracts (Regulation) Act, 1956. A "registered valuer" is someone registered under the Wealth-tax Act, 1957. "Section" refers to sections of the Finance Act. Any terms used but not defined in these rules shall have meanings as per the Finance Act, the Income-tax Act, 1961, or related rules.
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