The Central Board of Direct Taxes (CBDT) has notified a new Rule 11UAC in the Income Tax Rules, 1962 which provided that provisions of Section 56(2)(x) of the Income Tax Act shall not be applicable to any immovable property received by a resident of the unauthorized colony. The Newly inserted Rule 11UAC reads that, “The […]
The post CBDT allows Exemption under section 56(2)(x) to Resident of Unauthorised Colony [Read Notification] appeared first on Taxscan | Simplifying Tax Laws.
from Taxscan | Simplifying Tax Laws https://ift.tt/34XsbFJ
No comments:
Post a Comment