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Cost of Acquisition & Improvement

Income Tax - Capital Gains - 09 - NOTE 3: COST OF ACQUISITION Cost of acquisition of an asset is the value for which it was acquired by the assessee. Expenses of capital nature for completing or acquiring the title of property are includible in the cost of acquisition. Note: Interest on moneys borrowed to purchase asset is part of actual cost of asset. (A) Capital Asset Cost of Acquisition Acquired Self-Generated Goodwill of a business Purchase Price Nil Trade mark or a brand name associated wit .....

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The option to take cost of acquisition as FMV as on 01-04-1981 is not available even if above assets was acquired before 01-04-1981. (B) Capital Asset Cost of Acquisition Original shares/ securities Purchase Price Right shares/ Securities Price actually paid under the right issue Renouncement of right to subscribe shares/securities: In the hands of the person who renounces the right In the hands of the purchaser of right Nil Price paid to the person who renounced the right and amount paid to the .....

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