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Capital Gains - meaning of "adjusted", "cost of improvement" and "cost of acquisition" u/s 55 - reference of 1st day of April, 1981 to be replaced with the 1st day of April, 2001 - Budget 2017-18 w.e.f. AY 2018-19

Capital Gains - meaning of adjusted , cost of improvement and cost of acquisition u/s 55 - reference of 1st day of April, 1981 to be replaced with the 1st day of April, 2001 - Budget 2017-18 w.e.f. AY 2018-19 - Dated:- 3-2-2017 - Clause - 028 - Amend .....

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st of long-term capital asset acquired before the 1st day of April, 1981 is taken to be the cost of acquisition to the assessee or the fair market value of the asset on that date, at the option of the assessee. The cost of improvement is also taken i .....

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