TAX
Tax Alert: New Rules for Determining Taxability on Reconstitution of Firms
The CBDT vide notification dated 02.07.2021 has inserted a new sub-rule 5 under Rule 8AA of the Income-tax Rules, 1962 and also notified Rule 8AB, which deals with the attribution of income taxable under section 45(4) of the Act
July 12, 2021