Tag Archives: Trust

Draft valuation rules for fair market value in Trust or Institution under Income Tax Act 1961

  F. No. 370142/21/2016-TPL Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi, dated 24th October, 2016 Subject: Draft Rules for prescribing the method of valuation of fair market value in respect of the trust or the institution-Chapter XII-EB of the Income-tax Act, 1961- reg. The Finance Act,… Read More »

Tax on Accreted income of Certain Trust and Institutions

As per Section – 62, Finance Acts – 2016 After Chapter XII-EA of the Income-tax Act, the following Chapter shall be inserted with effect from the 1st day of June, 2016, namely:— ‘CHAPTER XII-EB SPECIAL PROVISIONS RELATING TO TAX ON ACCRETED INCOME OF CERTAIN TRUSTS AND INSTITUTIONS 115TD. Tax on accreted income.—(1) Notwithstanding anything contained in… Read More »