<h1>CBDT Proposes Rule 11UA Amendments: New Valuation Methods and Exemptions for Non-Resident Investors in Angel Tax.</h1> The Central Board of Direct Taxes (CBDT) has proposed amendments to Rule 11UA concerning the 'Angel Tax' provisions under the Finance Act, 2023. These changes aim to include consideration from non-residents for share issuance under section 56(2)(viib) of the Income-tax Act, 1961, if it exceeds the Fair Market Value (FMV). The proposal introduces five additional valuation methods for non-resident investors and allows price matching for resident and non-resident investors. A safe harbor of 10% variation in valuation is suggested. Certain non-resident entities, including government-related investors and specified financial entities, will be exempt from these provisions. The draft rules will be open for public comment before final notification.