Sec 54 B
This query is : Resolved
24 December 2010
Hi,
What is the meaning of cost of new asset under sec 54B?
Weather it is as per Government Valuation or actual cost incurred by the assessee (including stamp duty, brokerage etc.)?
please give details of relevant case law if any .
What is the meaning of cost of new asset under sec 54B?
Weather it is as per Government Valuation or actual cost incurred by the assessee (including stamp duty, brokerage etc.)?
please give details of relevant case law if any .
24 December 2010
Hello Mr.Fazal
As per section 54 B it is as per Government Valuation
As per section 54 B it is as per Government Valuation
24 December 2010
Hello Gayathri Devi,
You mean to say that, if the Gov Valuation is less than actual cost, assessee can claim exemption u/s 54B only to the extent of value determined by Govt Authorities.
You mean to say that, if the Gov Valuation is less than actual cost, assessee can claim exemption u/s 54B only to the extent of value determined by Govt Authorities.
24 December 2010
Cost of new assets will be computed as per the amount invested ( including stamp duty and brokrage also)
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