Login : Advocate | Client
Home Post Your Case My Account Law College Law Library

Report No. 12

53. Consideration for exchange.-

The full value of the consideration for the exchange of a capital asset referred to in section 48 [section re: computation of income] shall be taken to be the fair market value, on the date of the exchange, of the asset obtained by the assessee in exchange,-

(a) as increased by the value of any other consideration obtained by the assessee, and

(b) as diminished by the value of any consideration, in addition to the capital asset, given by the assessee.

Income-Tax Act, 1922 Back

Client Area | Advocate Area | Blogs | About Us | User Agreement | Privacy Policy | Advertise | Media Coverage | Contact Us | Site Map
powered and driven by neosys