The Income-tax (6th Amendment), Rules, 2018

Central Board of Direct Taxes (CBDT) has issued the Income-tax (6th Amendment), Rules, 2018 further amending the Income Tax Rules, 1962. Vide this amendment, in rule 11UA in sub-rule (2), in clause (b), the words “or an accountant” shall be omitted.  The amended Rules has now removed Chartered Accountants from the list and authorizes only Merchant Bankers to determine the fair value.

[S.O 2087 (E)]

URL: https://www.incometaxindia.gov.in/communications/notification/notification23_2018.pdf