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Rule 20AB of Income Tax Rules 1962: Evidence of payment of security transaction tax for claiming deduction under section 88E

Rule 20AB : Evidence of payment of security transaction tax for claiming deduction under section 88E
(Chapter: IV - Tax Exemptions and Reliefs)

The evidence of payment of securities transaction tax which is required to be furnished along with the return of income by the assessee under first proviso to section 88E,—

(i) on the value of transaction entered into by him in a recognised stock exchange, shall be in Form No. 10DB and shall be verified in the manner indicated therein;

(ii) on the value of transaction of sale, by him, of a unit of an equity oriented fund to the Mutual Fund, shall be in Form No. 10DC and shall be verified in the manner indicated therein.



Extra Notes for Readers:

- Rule 20AB was introduced by the Income Tax (1st Amendment) Rules, 2005, w.e.f. 6th Jan. 2005
- No rebate is admissible under section 88E from the assessment year 2009-10 onwards.

Reference/Source: Check at Income Tax site for latest version of the Rules - link

This page was last updated on 17th October 2016.
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