CBDT issued Notification No. 76/2021 dated 2nd July, 2021 amends rule 8AA which relates to Method of determination of period of holding of capital assets in certain cases and added rules related to amount which is chargeable to income-tax as income of specified entity under sub­section (4) of section 45 under the head Capital gains.

Notification inserted new Rule 8AB related to Attribution of income taxable under sub-section (4) of section 45 to the capital assets remaining with the specified entity, under section 48 alongwith  form namely ‘Details of amount attributed to capital asset remaining with the specified entity’

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