Amendment Notification dated 2nd July 2021 regarding The Income tax Amendment (18th Amendment), Rules, 2021 – CBDT

• 05th, July 2021
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Amendment Notification dated 2^nd July 2021 regarding The Income tax Amendment (18th Amendment), Rules, 2021 – CBDT

• In the Income-tax Rules, 1962, in rule 8AA, after Sub-Rule (4), the following Sub-Rule shall be inserted.
  • In case of the amount which is chargeable to income-tax as income of specified entity under subsection (4) of section 45 under the head Capital gains.
• In the principal rules, after rule 8AA, the following rule shall be inserted.
  • “8AB. Attribution of income taxable under sub-section (4) of section 45 to the capital assets remaining with the specified entity, under section 48”
• In the principal rules, in Appendix II, after Form No. 5B, Form 5C shall be inserted.