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 .
Gayathri Devi
(Expert)
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)
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Accounting treatment of AMC alongwith the purchase of Laptop
- Unable to File TDS Q2 Return – New TRACES Portal Error
- MSME disclosure and disallowance
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- Issuing of delivery challan by seller of goods
- Taxation of crypto futures in India Fy 2026- 2027
- EPF ECR NEW RULES Sep 17th 2026
- Transfer of Physical Stock Between Two Proprietorship Concerns
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
