https://www.taxtmi.com/acts?id=40653 Amendment imposes an additional tax at the maximum marginal rate on the accreted income of a "specified person" where it is converted to an ineligible form, merged with a non-specified entity, or on dissolution fails to transfer assets within twelve months; accreted income is FMV of total assets minus liabilities computed by prescribed valuation, with exclusions for assets acquired from exempt income, assets acquired before registration where no benefit was claimed, and assets transferred within the permitted period on dissolution. The term "specified person" is defined to include approved clause 23C entities and trusts or institutions registered under sections 12AA/12AB. en-us Mon, 28 Mar 2022 13:18:21 +0530 Sat, 02 Apr 2022 10:46:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=40653 Amendment imposes an additional tax at the maximum marginal rate on the accreted income of a "specified person" where it is converted to an ineligible form, merged with a non-specified entity, or on dissolution fails to transfer assets within twelve months; accreted income is FMV of total assets minus liabilities computed by prescribed valuation, with exclusions for assets acquired from exempt income, assets acquired before registration where no benefit was claimed, and assets transferred within the permitted period on dissolution. The term "specified person" is defined to include approved clause 23C entities and trusts or institutions registered under sections 12AA/12AB. Act-Rules F. Acts / Amendment Acts Mon, 28 Mar 2022 13:18:21 +0530 https://www.taxtmi.com/acts?id=40653