Asset Revaluation at Market Value Not Taxable; No Tax Liability on Imaginary Profits Without Asset Transfer.

Asset Revaluation at Market Value Not Taxable; No Tax Liability on Imaginary Profits Without Asset Transfer. https://www.taxtmi.com/highlights?id=32004 Capital gains - Revaluation at market value results in notional imaginary profit which cannot be taxed. Revaluation of an asset which an assessee continues to hold is not a taxable event and does not give rise to any taxable income - No tax liability - AT en-us Mon, 07 Nov 2016 16:57:16 +0530 Mon, 07 Nov 2016 16:57:16 +0530 TaxTMI RSS Generator Asset Revaluation at Market Value Not Taxable; No Tax Liability on Imaginary Profits Without Asset Transfer. https://www.taxtmi.com/highlights?id=32004 Capital gains - Revaluation at market value results in notional imaginary profit which cannot be taxed. Revaluation of an asset which an assessee continues to hold is not a taxable event and does not give rise to any taxable income - No tax liability - AT Highlights Income Tax Mon, 07 Nov 2016 16:57:16 +0530 https://www.taxtmi.com/highlights?id=32004