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Attribution of income taxable under sub-section (4) of section 45 to the capital assets remaining with the specified entity, under section 48

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....1) For the purposes of clause (iii) of section 48, where the amount is chargeable to income-tax as income of specified entity under sub-section (4) of section 45, the specified entity shall attribute such amount to capital asset remaining with the specified entity in a manner provided in this rule. (2) Where the aggregate of the value of money and the fair market value of the capital ....

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....e of the value of money and the fair market value of the capital asset received by the specified person from the specified entity, in excess of the balance in his capital account, charged to tax under sub-section (4) of section 45 does not relate to revaluation of any capital asset or valuation of self-generated asset or self-generated goodwill, of the specified entity, the amount charge....

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....ibuted to capital asset remaining with the specified entity in Form No. 5C. (6) Form No. 5C shall be furnished electronically either under digital signature or through electronic verification code and shall be verified by the person who is authorised to verify the return of income of the specified entity under section 140. (7) Form No. 5C shall be furnished on or before the due date referred....

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....of this rule, the amount chargeable to tax under sub-section (4) of section 45 shall relate to revaluation of any capital asset or valuation of self-generated asset or self-generated goodwill, of the specified entity, if the revaluation is based on a valuation report obtained from a registered valuer as defined in clause (g) of rule 11U. Explanation 2: For the removal of dou....

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