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of <h1>India Proposes New Rules for Valuing Trust Assets Under Income-tax Act: Stakeholder Feedback by Oct 31, 2016.</h1> The Government of India has proposed draft rules under Chapter XII-EB of the Income-tax Act, 1961, to prescribe the method for valuing the fair market value of assets for trusts or institutions. This pertains to additional income tax levied when a charitable institution ceases to be charitable. Rule 17CB outlines the valuation method, including the valuation of shares, securities, immovable properties, and other assets. The rules specify how liabilities are calculated and require valuation reports from registered valuers or merchant bankers. Stakeholders are invited to submit comments electronically by October 31, 2016.
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