fair market value - My Tax Support

“What You Need to Know About Tax on Property Gifts and Inadequate Transactions”

The taxation of property received without consideration or for inadequate consideration is governed by Section 56(2) of the Income Tax Act, 1961. This provision ensures that such transfers, which may otherwise escape taxation, are brought into the tax net

What is the Impact of the ‘Fair Market Value’ Method in Determining the Full Value of Consideration in Specific Cases Like the Transfer of Shares Under Section 50C?

When it comes to the transfer of assets, one of the critical components in calculating capital gains is the determination of the full value of consideration (FVC). In certain cases, such as the transfer of shares, the Fair Market

What Are the Special Rules Under Section 55 for Determining the Cost of Acquisition and Improvement When the Property Is Transferred to the Assessee Through Gifts or Inheritance?

When an individual acquires property through gifts or inheritance, the cost of acquisition and improvement for capital gains tax purposes is calculated differently than for properties purchased directly. This is governed by the provisions under Section 55 of the

How Are Capital Gains Treated in Case of the Transfer of Property Complete Under Agreement or a Similar Arrangement?

A joint venture (JV) agreement or a similar contractual arrangement is a business partnership where two or more parties agree to pool their resources, assets, or expertise to undertake a specific project. Joint ventures often involve the transfer of

What is the Impact of the ‘Fair Market Value’ Method in Determining the Full Value of Consideration in Specific Cases Like the Transfer of Shares Under Section 50C?

What Are the Tax Implications for Capital Gains on the Transfer of Property Under a Conditional Sale Agreement?

The transfer of land or property is a significant event for any taxpayer, and understanding the capital gains tax implications is essential. In cases where land or property is subject to an option or conditional sale agreement, the calculation

What You Need to Know About Capital Gains on Asset Transfers to Firms, AOPs, and LLPs Under Section 45(3)

The Income Tax Act, 1961 provides specific provisions to govern the taxation of capital gains arising from the transfer of capital assets. One of the situations where capital gains tax treatment becomes particularly important is when a capital asset

Complete “Section 40A(2): Disallowance of Excess Remuneration to Relatives”

Introduction Section 40A of the Income Tax Act, 1961, is a key provision designed to prevent tax evasion by regulating transactions with related parties, including relatives. Specifically, Section 40A(2) targets excessive payments for goods, services, or remuneration made to

How is the Fair Market Value of Converted Inventory Determined?

Introduction When inventory is converted into a capital asset, determining its Fair Market Value (FMV) is crucial for accurate tax calculations. Under Section 45(2) of the Income Tax Act, 1961, FMV plays a pivotal role in calculating both business

“Taxation of Business Perquisites Under Section 28(iv): A Complete Guide”

Introduction In business, it is common to receive non-monetary benefits or perquisites as part of commercial transactions or arrangements. These could include free goods, discounts, or the use of assets. The Income Tax Act, 1961, ensures that such benefits

Tag: fair market value

“What You Need to Know About Tax on Property Gifts and Inadequate Transactions”

What is the Impact of the ‘Fair Market Value’ Method in Determining the Full Value of Consideration in Specific Cases Like the Transfer of Shares Under Section 50C?

What Are the Special Rules Under Section 55 for Determining the Cost of Acquisition and Improvement When the Property Is Transferred to the Assessee Through Gifts or Inheritance?

How Are Capital Gains Treated in Case of the Transfer of Property Complete Under Agreement or a Similar Arrangement?

What is the Impact of the ‘Fair Market Value’ Method in Determining the Full Value of Consideration in Specific Cases Like the Transfer of Shares Under Section 50C?

What Are the Tax Implications for Capital Gains on the Transfer of Property Under a Conditional Sale Agreement?

What You Need to Know About Capital Gains on Asset Transfers to Firms, AOPs, and LLPs Under Section 45(3)

How is the Fair Market Value of Converted Inventory Determined?

“Taxation of Business Perquisites Under Section 28(iv): A Complete Guide”

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