Defining the cost of acquisition in case of certain assets for computing capital gains

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..... he cost of any improvement and cost of acquisition for the purposes of computing capital gains. However, there are certain assets like intangible assets or any sort of right for which no consideration has been paid for acquisition. The cost of acquisition of such assets is not clearly defined as nil in the present provision. This has led to many legal disputes and the courts have held that f .....

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..... . 3. This amendment is will take effect from the 1st day of April, 2024 and shall accordingly, apply in relation to the assessment year 2024-25 and subsequent assessment years. [Clause 31] Full Text : Union Budget 2023-24 + FINANCE Bill, 2023 - FAQ - Frequently Asked Questions, TMI Short Notes , Experts comment, opinion Tax Management India - taxmanagementindia - taxman .....

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