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Section 51 - Treatment of Advance Money received

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Full Text of the Document

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.... The cost for which the asset was acquired or * The Fair Market Value of the asset * The WDV in case of depreciable assets as the case may be, in computing the cost of acquisition. Advance Money Forfeited by Seller on or after 01.04.2014 As per Sec. 56(2)(ix) "Any sum of money received as an advance or otherwise in the course of negotiations for transfer of a capital asset, if, * such....

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