Form No. 5C under Rule 8AB of the Income-tax Act, 1961 is used to report details of the amount attributed to capital assets remaining with a specified entity. It captures essential information such as the entity’s name, PAN, assessment year, taxable amount under section 45(4), and asset-wise attribution including book value and revalued amounts. This form ensures accurate reporting of capital asset allocations and supports transparency and compliance in capital gains taxation.
Source: https://incometaxindia.gov.in
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