#rule #specified #diseases #ailments #deduction #prescription The rule states that: (1) For the purposes of section 80DDB, the following shall be the eligible diseases or ailments : (i)Neurological Diseases where the disability level has been certified to be of 40% and above,—(a)Dementia ;(b)Dystonia Musculorum Deformans ;(c)Motor Neuron Disease ;(d)Ataxia ;(e)Chorea ;(f)Hemiballismus ;(g)Aphasia ;(h)Parkinsons Disease ;(ii)Malignant Cancers ;(iii)Full Blown Acquired Immuno-D

#rule #prescribedclass #persons #purpose #movableproperty The rule states that: The provisions of section 50CA of the Act shall not apply to transfer of any movable property,being unquoted shares, of a company and its subsidiary and the subsidiary of such subsidiary by anassessee, where,— (i)the Tribunal, on an application moved by the Central Government under section 241 of the Companies Act, 2013, has suspended the Board of Directors of such company and has appointed new di

#rule #electronic #modes The rule states that: The following shall be the other electronic modes for the purposes of clause (d) of first proviso to section 13A, clause (f) of sub-section (8) of section 35AD, sub-section (3), sub-section (3A), proviso to sub-section (3A) and sub-section (4) of section 40A, second proviso to clause (1) of Section 43, sub-section (4) of section 43CA, proviso to sub-section (1) of section 44AD, second proviso to sub-section (1) of section 50C, se

#rule #computation #fairmarketvalue #capitalassets The rule states that: (1) For the purpose of clause (ii) of sub-section (2) of section 50B, the fair market value of the capital assets shall be the FMV1 determined under sub-rule (2) or FMV2 determined under sub-rule (3), whichever is higher. (2) The FMV1 shall be the fair market value of the capital assets transferred by way of slump sale determined in accordance with the formula - A+B+C+D - L, where, A= book value of all t

#rule #computation #shortterm #capitalgains #writtendownvalue #depreciation #goodwill The rule states that: (1) For the purposes of proviso to section 50, the written down value of the block of the asset and short term capital gains, if any, for the previous year relevant to the assessment year commencing on the 1st day of April, 2021 shall be determined in accordance with this rule. (2) Where the goodwill of the business or profession was the only asset or one of the assets

#rule #conversion #rateofexchange #foreigncurrency #rupees The rule states that: For the purpose of computing capital gains arising from the transfer of a capital asset being shares in, or debentures of, an Indian company, in the case of an assessee who is a non-resident Indian, the rate of exchange shall be :— (a)for converting the cost of acquisition of the capital asset, the average of the telegraphic transfer buying rate and telegraphic transfer selling rate of the foreig

#rule #sec48 #taxableincome #capitalassets #specifiedentity The rule states that: (1) For the purposes of clause (iii) of section 48, where the amount is chargeable to income-tax as income of specified entity under sub-section (4) of section 45, the specified entity shall attribute such amount to capital asset remaining with the specified entity in a manner provided in this rule. (2) Where the aggregate of the value of money and the fair market value of the capital asset rece