1.

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?

Answer»

The FAIR MARKET VALUE of the asset as on 1ST June, 2016 [which has been taken into account for the purpose of said declaration Scheme, 2016] shall be deemed as cost of acquisition of the asset. [This PROVISION is applicable w.e.f. 1-4-2017]

The fair market value of the asset as on 1st June, 2016 [which has been taken into account for the purpose of said declaration Scheme, 2016] shall be deemed as cost of acquisition of the asset. [This provision is applicable w.e.f. 1-4-2017]



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