The Income-tax (14th Amendment) Rules, 2020
The following shall be exempted from scope of ‘Income from other sources’: Any immovable property, being land or building or both, received by a resident of an unauthorized colony in the National Capital Territory of Delhi, where the Central Government by notification in the Official Gazettee, regularized the transactions of such immovable property.
Income-tax (15th Amendment) Rules, 2020
The new Rule provides that the provisions of Section 50CA shall not apply to transfer of any movable property, being unquoted shares, of a company and its subsidiary and the subsidiary of such subsidiary by an assessee, where The Tribunal, under section 241, has suspended the Board of Directors of such company and has appointed new directors and Share of such company has been transferred pursuant to a resolution plan approved by the Tribunal.
CBDT relaxes conditions for Category-I foreign portfolio investor to qualify as eligible investment fund
The Central Government notifies that the conditions
specified in clauses (e), (f) and (g) of the said sub-section shall not apply in case of an investment fund set
up by a Category-I foreign portfolio investor registered under the Securities and Exchange Board of India
(Foreign Portfolio Investors) Regulations, 2019 to qualify as eligible investment fund.
