Fair market value deemed full consideration when transfer consideration is indeterminate, affecting capital gains computation. When consideration for the transfer of a capital asset cannot be ascertained or determined, the fair market value of the asset on the date of transfer is ... Summary
Fair market value deemed full consideration when transfer consideration is indeterminate, affecting capital gains computation.
When consideration for the transfer of a capital asset cannot be ascertained or determined, the fair market value of the asset on the date of transfer is to be treated as the full value of consideration for purposes of computing income under the head "Capital gains".
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