<h1>Finance Ministry Issues Draft Rules for Fair Market Value of Indian and Global Assets u/s 9.</h1> The Finance Ministry has released draft rules and forms for determining the fair market value of Indian and global assets under Section 9 of the Income-tax Act, 1961. These rules address income arising from the indirect transfer of assets in India, where a foreign company's shares derive substantial value from Indian assets. If Indian assets constitute at least 50% of the total asset value, income from such shares is taxable in India. Section 285A requires Indian entities to report foreign-held assets. Stakeholders and the public are invited to submit comments on these drafts by May 29, 2016.