When a capital asset was acquired on 01.04.1980 and sold in June, 2017, the cost of acquisition or the fair market value of the asset as on ------, at the option of the assessee is to be adopted for indexation purpose:

Related MCQs

• An individual purchased a painting on 01-11-2017 for Rs. 5,00,000 though fair market value of the asset is `5,25,000. Income taxable u/s 56(2)(x) is:
• Cost of acquisition of capital asset being immovable property acquired through gift covered u/s 49(4) is:
• New plant and machinery acquired and put to use by an assessee engaged in transmission of power is eligible for additional depreciation at ____ of actual cost.
• Where a partner of a firm transfers any capital asset to the firm by way of capital contribution, for the purpose of computing capital gain in the hands of the partner, the amount of deemed consideration is
• When the return of income for the assessment year 2017-18 is filed under Section 139(4), the assessee can revise the return on or before-
• An individual, being foreign national, came to India first time during the previous year 2017-18 on 01-01-2018 for 200 days, his residential status for the previous year 2017-18 is.
• Cost of acquisition of self-generated asset is nil, the exception is:
• For the purpose of claiming higher deduction u/s 24(b), while computing income of a self-occupied property, assessee is required to take:
• Block of asset is required to be increased by an amount which is actual cost of the asset being covered u/s 35AD that amount is:
• Casual income received by the assessee