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of <h1>Section 50CA: Unquoted Shares Valuation for Capital Gains Tax Based on Fair Market Value, Not Sale Price</h1> Section 50CA of the Income Tax Act addresses the valuation of unquoted shares for capital gains tax purposes. If the sale consideration for such shares is less than their fair market value (FMV), the FMV is deemed the full value of consideration for tax calculation. The FMV is determined using a specific formula involving the book value of assets and liabilities, market value of jewelry and artistic works, and government-assessed value for stamp duty purposes. Exceptions apply to certain transfers under prescribed conditions. This provision ensures sellers pay capital gains tax based on FMV rather than the actual sale price.
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