When it comes to computing capital gains under the Income Tax Act, one of the most crucial aspects to consider is the determination of the "cost of acquisition" and the…
When it comes to computing capital gains under the Income Tax Act, understanding the key terms such as "adjusted," "cost of improvement," and "cost of acquisition" is essential. Section 55…
In the complex world of taxation, the valuation of assets plays a crucial role in determining the tax liabilities of individuals and businesses. Section 55A of the Income Tax Act,…
Section 50D of the Income Tax Act, 1961, addresses situations where the consideration for transferring a capital asset is unascertainable or cannot be determined. This provision ensures fair and consistent…