Tax alert: CBDT prescribes final rules for valuation of unquoted equity, compulsory convertible preference shares

27 September 2023
The Central Board of Direct Taxes (CBDT) vide notification dated 25 September 2023, has amended Rule 11UA of the Income-tax Rules, 1962 for computation of fair market value of unquoted equity shares and compulsory convertible preference shares (CCPS) for the purposes of section 56(2)(viib) of the Income-tax Act, 1961 (ITA). The CBDT had earlier issued a draft notification on 26 May 2023 for public suggestions/comments.

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