Cost of Acquisition of a Capital Asset acquired u/s 49(1)(ii)/(iii)(a) of the Income Tax Act, 1961

| Last updated: 21 June 2013

The income of a person has to be computed under any or all five heads of income for the purpose of levying income tax. Section 14 of the Income tax Act,1961 (herein after referred to as the act) prescribes these five heads in which capital gains is one among the other heads. Capital gains means a
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Bhaskaran Chackrapani Warrier

About the Author

Chartered Accountant

Graduate of Kerala University. Fellow member of ICAI.

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