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of <h1>Rule 17CB Details Asset Valuation Under Section 115TD(2) of Income Tax Act: Methods for Shares, Properties, Liabilities</h1> Rule 17CB outlines the method for valuing assets under section 115TD(2) of the Income Tax Act. It specifies that the fair market value of a specified person's assets is determined by the aggregate value of all assets in the balance sheet, minus certain tax payments and non-representative asset values. The rule provides detailed valuation methods for quoted and unquoted shares, securities, immovable properties, and business undertakings. It excludes certain liabilities from total liability calculations, such as capital funds and contingent liabilities. Definitions for terms like 'accountant,' 'merchant banker,' and 'specified person' are also provided.
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