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Rule 48-I of Income Tax Rules 1962: Rate of interest

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."

Check at Income Tax Dept. official site for latest version of the Rule.

This page was created/last updated on 17th October 2016.