Incaseifanintangibleassetisacquiredbefore1-4-1981 what will be thecostofacquisition.FMVORACTUALCOST?

Accounts Tax GST

This question was asked in Types of Capital Gains

In case if an intangible asset is acquired before 1-4-1981 what will be the cost of acquisition. FMV OR ACTUAL COST?

Gaurav

March 12, 2016, 9:43 p.m.

Answers!

Davneet Singh

March 12, 2016, 10:46 p.m.

For intangible assets,we cant take FMV as on 1/4/1981

We have to take

COA=actual costs (purchase price) in case these assets are acquired

COA-0, in case Cost of acquisition

For more details.

pls refer

http://teachoo.com/800/81/Capital-Gain-in-case-of-Intangible-Assets/author/teachoo/category/Special-Cases

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