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of <h1>Amendment to Income-tax Rules: New Valuation Methods for Unquoted Equity and Preference Shares u/r 11UA Effective Now.</h1> The Income-tax (Twenty First Amendment) Rules, 2023, effective from September 25, 2023, amend the Income-tax Rules, 1962, specifically rule 11UA. The amendment outlines the methodology for determining the fair market value of unquoted equity shares and compulsorily convertible preference shares. It provides options for valuation methods, including book value, merchant banker valuation, and specific methods like the Discounted Free Cash Flow method. These rules apply to both resident and non-resident considerations, with provisions for venture capital undertakings and specified funds. The amendment also addresses the valuation date and issue price considerations, allowing a 10% variance from the valuation price.
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