TaxTMI 
TaxTMI 
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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.... 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 (2nd Amendment) Rules, 2022. (2) They shall come into force from the date of their publica....
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....ed 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'; (ii) where the amount is received under the specified unit linked insurance policy during the previous year, ....
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....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-rule (1) shall be deemed to be the capital gains arising from the transfer of a unit of an equity oriented fund set up under a scheme of an insuran....