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Capital gains
Direct Taxation
Sir in capital gains, assessee has an option to select the actual cost or fmv as on 1/4/2001 if asset was purchased before 1/4/2001. Is it available in case of building also sir? That means if building purchased before 1/4/2001 we can take either actual cost or fmv as on 1/4/2001 if we took fmv as on 1/4/2001 it should not below SDV right sir?
Answers (4)
Yoga Vishnu
Yes. It shall not exceed the stamp duty value, wherever available, of such asset as on the 1st day of April, 2001.
So we can take the actual cost also sir if it is beneficial btobthe assesse?
Thread Starter
Likhitha SivaniSo we can take the actual cost also sir if it is beneficial btobthe assesse?
yes. but it shall not exceed the stamp duty value
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