Amendment to Rule 11UA for determination of Fair Market Value (‘FMV’) of Shares

Considering the amendment made by Finance Act, 2023 extending the applicability of S.56(2)(viib) to non-residents, CBDT has issued a draft notification on 26th May 2023 proposing amendment to Rule 11UA which was opened up for public comments.


CBDT has finally issued Notification No. 81/2023 dated 25th September 2023 and amended Rule 11UA. We have provided a brief overview of the draft vis-à-vis final notification.

Amendment to Rule 11UA for determination of Fair Market Value (‘FMV’) of Shares - Thumbnail

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