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ITA 2025 regimeRules 2026 commentaryVolume V1 min read

Income Tax Rules 2026 — Rules 49-59 (Vol V)

Rules 49-59

RULES 49 TO 59 — CAPITAL GAINS COMPUTATION, FMV, OTHER SOURCES INCOME-TAX ACT, 2025 INCOME-TAX ACT, 1961 Rule 49 — ULIP capital gain ( s. 67(5) ) Rule 8AD Rule 50 — Partner-firm distribution attribution ( s. 72(5) ) Rule 8AB Rule 51 — Original fund / IFSC relocation Rule 21AJ Rule 52 — Cost rules…

RULES 49 TO 59 — CAPITAL GAINS COMPUTATION, FMV, OTHER SOURCES

Volume V — At a Glance

INCOME-TAX ACT, 2025

INCOME-TAX ACT, 1961

Rule 49 — ULIP capital gain (s. 67(5))

Rule 8AD

Rule 50 — Partner-firm distribution attribution (s. 72(5))

Rule 8AB

Rule 51 — Original fund / IFSC relocation

Rule 21AJ

Rule 52 — Cost rules for special shares

Rule 8AA

Rule 53 — Slump sale FMV (s. 77)

Rule 11UAE

Rule 54 — Slump sale audit Form 7

Rule 6H / Form 3CEA

Rule 55 — Reference to VO (s. 91)

Rule 11U

Rules 56-57 — FMV definitions / methodology

Rules 11UA / 11UAB / 11UAC

Rule 58 — Gift carve-outs (s. 92(2)(m))

s. 56(2)(x) Explanations

Rule 59 — Life insurance receipts (s. 92(2)(l))

FA 2023 amendments

Practitioner notes

  • Rule 53 slump sale FMV: compute both methods (net worth + open market) and take higher; CA-certified Form 7 mandatory.
  • Rule 57 unlisted shares: NAV-default; DCF requires merchant banker certification; choose method based on commercial context.
  • Rule 58 gift carve-outs: maintain documentation of relationship / occasion; friend-to-friend gifts above Rs 50K taxable.
  • Rule 59 — high-premium life insurance proceeds (post-FA 2023) attract capital gains computation; track policy issue date for grandfathering.

— End of Rules Volume V —

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