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Rule 48-I of Income Tax Rules 1962: Rate of interest for determination of discounted value of consideration

Rule 48-I : Rate of interest for determination of discounted value of consideration
(Part XC : Purchase of Immovable Properties under Chapter XXC)

The rate of interest for determination of the discounted value of consideration under sub-clause (1) or sub-clause (2) of clause (b) of section 269UA shall be eight per cent per annum.





Extra Notes for Readers:

- Rule 48-I under Part XC was introduced by the Income Tax (7th Amendment) Rules, 1986, w.e.f. 1-10-1986.
- Refer Section 269UP of Chapter XXC under the Income Tax Act 1961, which reads as under:
"The provisions of this Chapter shall not apply to, or in relation to, the transfer of any immovable property effected on or after the 1st day of July, 2002."


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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