If any undisclosed income [in the form of investment in capital asset] is declared under Income Declaration Scheme, 2016, then what should be the cost of acquisition of such capital asset?
FAQs on Capital Gains
Contents
Summary
Note
Bookmark
Share
✓ Copied successfully !
Print
Print Options
For full text, please login
Login to TaxTMI
Verification Pending
The Email Id has not been verified. Click on the link we have sent on
Deemed cost of acquisition under income declaration scheme: fair market value at declaration date treated as acquisition cost. Cost of acquisition for a capital asset disclosed under the Income Declaration Scheme, 2016 is the fair market value of the asset as on 1 June 2016 used ... Summary
Deemed cost of acquisition under income declaration scheme: fair market value at declaration date treated as acquisition cost.
Cost of acquisition for a capital asset disclosed under the Income Declaration Scheme, 2016 is the fair market value of the asset as on 1 June 2016 used for the scheme's declaration, and that value is deemed to be the acquisition cost for computing capital gains.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
Join Channel
TaxTMI 
