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Oct 26, 2016
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CBDT unveils norms for computing FMV of trust assets
The tax department today came out with draft rules for valuation of assets of charitable institutions for the taxation purpose after they convert into non-charitable entities. The draft norms, on which the Central Board of Direct Taxes (CBDT) has sought comments by October 31, prescribe different methods for computing the aggregate fair market value (FMV) of total assets of trusts and charitable institutions.
Source -
http://www.business-standard.com
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