Income tax (2nd Amendment) Rules, 2022. - New Rule 8AD Computation of capital gains for the purposes of sub-section (1B) of section 45

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.... G.S.R. 24(E).-In exercise of the powers conferred by sub-section (1B) of section 45, 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 (2^nd Amendment) Rules, 2022. ....

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.... A-B where, - A= the amount received for the first time under a specified unit linked insurance policy during the previous year, including the amount allocated by way of bonus on such policy; and B = the aggregate of the premium paid during the term of the specified unit linked insurance policy till the date of receipt of the amount as referred to in 'A'; ....

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.... D = the aggregate of the premium paid during the term of the specified unit linked insurance policy till the date of receipt of the amount as referred to in 'C' as reduced by the premium that has already been considered for calculation of taxable amount under this sub-rule during the earlier previous year or years. (2) The capital gains as computed under clause (i) or clause (ii) of sub-....