CBDT notifies changes to Rule 11UA in respect of ANGEL TAX.
Notification No. 81/2023 dated 25th September, 2023 issued.
➡️Suggestions & feedback were invited from stakeholders & general public on the Draft Rule 11UA in May, 2023.
➡️Taking into consideration suggestions received & detailed interactions with stakeholders, Rule 11UA for valuation of shares for purposes of section 56(2)(viib) of the Income-tax Act, 1961 has been modified vide Notification No. 81/2023 dated 25th September, 2023.
➡️The notified Rule provides for expansion of valuation methodologies to include globally accepted methodology & provide a broad parity to resident and non-resident investors.
