TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Acts & Rules
of of All Acts & Rules
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Income-tax Act Section 49 amended: Fair market value as cost for assets under Income Declaration Scheme 2016.</h1> Section 49 of the Income-tax Act was amended by the Finance Act, 2016, effective April 1, 2017. A new sub-section (5) was added, stipulating that for capital gains arising from the transfer of an asset declared under the Income Declaration Scheme, 2016, the cost of acquisition will be considered the fair market value of the asset as determined at the commencement of the Scheme. This is applicable if the tax, surcharge, and penalty have been paid according to the Scheme's provisions.
TaxTMI 
TaxTMI 
