Tax on accreted income.

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....ection (1) shall be computed using the following formula:-- A = B-C where,-- A = Accreted income; B = Aggregate fair market value of the total assets of the specified person, as on the date specified, in column C of the Table in sub-section (5), computed in accordance with such method of valuation, as prescribed; C = Total liability of such specified person, as on the date specified in column C of the said Table, computed in accordance with such method of valuation, as prescribed. (4) The accreted income, computed as per the provisions of sub-section (3) shall be reduced by such amount of accreted income as is attributable to specified assets, and liabilities, if any, related to such assets. ....

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....nder any specified provision in such tax year. The date of adoption or modification of any object. The end of such tax year. 4. (a) The specified person has adopted or undertaken modification of its objects during any tax year; and (b) such modified objects do not conform to the conditions of registration. The specified person has applied for fresh registration under any specified provision in such tax year and where such application has been rejected and appeal has been preferred against such order of rejection. The date of adoption or modification of any object. The date of receipt of the order in any appeal, confirming the cancellation of the registration by the specified person. 5. (a) The specified person ....

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....d non- profit organisation having the same or similar objects and the said merger does not fulfil such conditions, as prescribed.   The date of merger. The date of merger. 9. The specified person has failed to transfer upon dissolution, all its assets to any other registered non-profit organisation within twelve months from the end of the month in which the dissolution takes place.   The date of dissolution. The date on which such period of twelve months expires. (6) The payment of tax on the accreted income by the specified person under this section shall be deemed as the final payment of tax in respect of the said income and no further credit therefor shall be claimed by, or any deduction be allowed to....