Property Valuation - Income Tax
Remember, there is no income tax or capital gain tax liability on an enterprise consequent to revaluation of its assets.
An Example
In case of Abdul Majid Vs. ITO-178 and ITR 616, it was decided by the tribunal that the reassessment of the assets’ values called for by the ITO, was not justified, because, the returns filed by the assessee were accompanied with authorised valuer’s certificates in respect of the value of a residential house, regarding which, the ITO had claimed that a fair market price was not being shown.
Property Valuation for
- Income Tax
- Capital Gain Tax
- Wealth Tax
- Dissolution of a Partnership
- Rent and Depreciation
- Jewellery
- Property Transfer
- Purchase, Sale, Takeovers and Mergers
- Credits
- Bank Guarantees
- Projecting the Right Image
- Rupee Devaluation / Revaluation
- Advance payment against works contract
- Incentives
- Security with Power Supply Companies
- Duty Draw-Back and Export Incentives
- Foreign Collaboration
- Technological Know-how
- Import Duty
- Octroi
- Auction
- Vacating Premises
- Machine Rent
- S.S.I. Registration
- Hidden Costs
- General Insurance and Insurance Cover
- Stamp Duty
- Acquisition by Government
- Liquidator’s Role
- Co-op. Society and Charitable Trusts
- Last Testaments and Wills
- Visas
- Executive Perks
- Housing Loans
- Division of Assets in the Family
- Divorce
- Larger Public Interests
Creative Ideas
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