TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Notifications
of of All Notifications
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>New Rule 11UAD Exempts Unquoted Share Transfers from Section 50CA Tax When Board Is Suspended, New Directors Appointed.</h1> The Income-tax (15th Amendment) Rules, 2020, effective from April 1, 2020, amend the Income-tax Rules, 1962. The amendment introduces Rule 11UAD, exempting the application of Section 50CA of the Income-tax Act to the transfer of unquoted shares of a company and its subsidiaries when the company's Board of Directors is suspended and new directors are appointed by the Central Government under the Companies Act, 2013. The exemption applies if the share transfer follows a resolution plan approved by the Tribunal, after consultation with the jurisdictional Principal Commissioner or Commissioner. No adverse effects are anticipated from the retrospective application of these rules.
TaxTMI 
TaxTMI 
