![If any undisclosed income [in the form of investment in capital asset] is declared under Income Declaration Scheme, 2016, then what should be the cost of acquisition of such capital asset?](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgksKQHp7h6qVCZ2nXSnvnMguVSlJ5rXEApQfh28eLSzVbBWV_F9GlB27aSfARbFaS8a7YwmSknxfMVDiOba3nqW_MChzO-2z49LVcTeJFrUIRvjX9z0Azo_RIhlvx4KgNY_tN24Zx9GsM/s1600/4.jpg "If any undisclosed income [in the form of investment in capital asset] is declared under Income Declaration Scheme, 2016, then what should be the cost of acquisition of such capital asset?")
The fair market value of the asset as on 1st June, 2016 [which has been taken into account for the purpose of said declaration Scheme, 2016] shall be deemed as cost of acquisition of the asset. [This provision is applicable w.e.f. 1-4-2017]
Thursday, February 22, 2018
If any undisclosed income [in the form of investment in capital asset] is declared under Income Declaration Scheme, 2016, then what should be the cost of acquisition of such capital asset?
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