Part XIVAMENDMENTS TO CERTAIN ACTS TO PROVIDE FOR MERGER OF TRIBUNALS AND OTHER AUTHORITIES AND CONDITIONS OF SERVICE OF CHAIRPERSONS, MEMBERS, ETC. (From Section 156 to Section 189 )
Deemed consideration rule treats prescribed fair market value as full consideration for transfers of unquoted shares affecting capital gains. A deeming rule provides that when an assessee transfers an unquoted share and the actual consideration is less than the prescribed fair market value, the ... Summary
Deemed consideration rule treats prescribed fair market value as full consideration for transfers of unquoted shares affecting capital gains.
A deeming rule provides that when an assessee transfers an unquoted share and the actual consideration is less than the prescribed fair market value, the prescribed fair market value shall be deemed to be the full value of consideration for computing capital gains under the applicable charging provision; quoted share is defined as a share regularly quoted on a recognised stock exchange based on current transactions.
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