Draft notification pertaining to new Rule 11UAB of IT Rules, 1962

Finance Act, 2018 has inserted clause (via) to section 28 of the Income-tax Act, 1961 (the Act) so as to provide that any profit and gains from conversion of inventory into capital asset or its treatment as capital asset shall be charged to tax as business income. It has also been provided that for

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Attached File : 40_16742_framing_of_rule_under_28_ii.pdf

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CCI News Desk

Finance news reporter covering taxation, GST, income tax, business compliance, and economy updates. I simplify complex financial topics into easy-to-understand articles for professionals, taxpayers, and business owners on leading finance and tax platforms.

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