https://www.taxtmi.com/news?id=16133 Amendments revise capital gains classification for unlisted shares, deem cost of acquisition for assets declared under the Income Declaration Scheme to be the fair market value used in that Scheme, and modify taxation options for patent royalties and certain securities transactions in International Financial Services Centres. They introduce mechanisms to treat subsequently non-complied deductions as wrongly allowed with AO recomputation and rectification; tighten eligibility and thresholds for housing project benefits and research incentives; clarify trust registration effects on accreted income; and expand withholding, return processing, and penalty provisions to address under-reporting and enforcement. en-us Thu, 05 May 2016 22:29:31 +0530 Fri, 06 May 2016 16:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=16133 Amendments revise capital gains classification for unlisted shares, deem cost of acquisition for assets declared under the Income Declaration Scheme to be the fair market value used in that Scheme, and modify taxation options for patent royalties and certain securities transactions in International Financial Services Centres. They introduce mechanisms to treat subsequently non-complied deductions as wrongly allowed with AO recomputation and rectification; tighten eligibility and thresholds for housing project benefits and research incentives; clarify trust registration effects on accreted income; and expand withholding, return processing, and penalty provisions to address under-reporting and enforcement. News - Thu, 05 May 2016 22:29:31 +0530 https://www.taxtmi.com/news?id=16133