CBDT releases draft rules prescribing method of valuation of unquoted equity shares for the purpose of Sections 56(2)(x) and 50CA; CBDT invites comments and suggestions from stakeholders by May 19. Copy of Notification and draft rules are attached. Valuation of unquoted equity shares are to be calculated as per draft rules by taking into account the FMV of jewellery, artistic work, shares & securities and stamp duty value in case of immovable property and book value for the rest of the assets . As per existing 11UA rule the book value (and not the FMV / stamp duty value) is taken into consideration for determining the value of such shares.