TaxTMI 
TaxTMI 
Income- tax (16th Amendment) Rules, 2021. - New Rule 11UAE. Computation of Fair Market Value of Capital Assets for the purposes of section 50B of the Income-tax Act
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.... Delhi, the 24th May, 2021 G.S.R. 338 (E).- In exercise of the powers conferred by section 50B read with section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules,1962, namely:─ 1. Short title and commencement.-(1) These rules may be called the Income- tax (16th Amendment) Rules, 2021. ....
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....the undertaking or the division transferred by way of slump sale as reduced by the following amount which relate to such undertaking or the division, - (i) any amount of income-tax paid, if any, less the amount of income-tax refund claimed, if any; and (ii) any amount shown as asset including the unamortised amount of deferred expenditure which does not represent the v....
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....i) the amount set apart for payment of dividends on preference shares and equity shares where such dividends have not been declared before the date of transfer at a general body meeting of the company; (iii) reserves and surplus, by whatever name called, even if the resulting figure is negative, other than those set apart towards depreciation; (iv) any amount representing pr....
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.... of the transfer; F = fair market value of non-monetary consideration received or accruing as a result of the transfer represented by property referred to in sub-rule (1) of rule 11UA determined in the manner provided in sub-rule (1) of rule 11UA for the property covered in that sub-rule; G = the price which the non-monetary consideration received or accruing as a result of the t....