TaxTMI Login
Just a moment...
AI-powered research trained on the authentic TaxTMI database.
Launch AI Search →Powered by Weblekha - Building Scalable Websites
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
Press 'Enter' after typing page number.
of Press 'Enter' after typing page number.
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of Press 'Enter' after typing page number.
of Press 'Enter' after typing page number.
All Acts & Rules
of Press 'Enter' after typing page number.
of Press 'Enter' after typing page number.
All Acts & Rules
Note
Bookmark
Share
Don't have an account? Register Here
of Press 'Enter' after typing page number.
<h1>Cost of acquisition deemed previous owner's cost for specified transfers, changing the capital gains computation and tax basis.</h1> Where an asset becomes the assessee's property by partition, gift, succession, dissolution, liquidation or transfer to a trust, the cost of acquisition is deemed to be the cost for which the previous owner acquired it, increased by improvement costs borne by the previous owner or the assessee; 'previous owner' means the last owner who acquired the asset by a mode other than those specified. Specific deeming rules apply for amalgamation, share/debenture exchanges, conversions, demergers, mutual fund consolidations/segregations, and value-based bases such as fair market value or stamp duty value.
TaxTMI 
TaxTMI 
