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>Section 55: Rules for computing cost of acquisition and cost of improvement for capital gains taxation</h1> Section 55 defines 'cost of improvement' and 'cost of acquisition' for computing capital gains. Improvements to goodwill and specified intangibles are treated as nil; for other assets, improvement means capital expenditure incurred after specified dates by the owner or previous owner, excluding amounts deductible under other heads. Cost of acquisition varies by asset type and mode of acquisition: purchase price where bought, nil in many inherited/otherwise-acquired cases, or fair market value/options for assets held before specified base dates; special provisions apply for shares, bonus/stock reorganisation, demutualisation, allotment without payment, and where previous owner's cost is unascertainable.
TaxTMI 
TaxTMI 
