Net Consideration - Definition / Legal Terminology - Income Tax

Net Consideration Explanation . (iii) - For the purposes section 11(1A) of the Income tax Act 1961,- Net Consideration means- the full value of the consideration received or accruing as a result of the transfer of the capital asset as reduced by any expenditure incurred wholly and exclusively in connection with such transfer. Explanation . -For the purposes of section 54F of the Income tax Act 1961,- Net Consideration , in relation to the transfer of a capital asset, means- the full value of the consideration received or accruing as a result of the transfer of the capital asset as reduced by any expenditure incurred wholly and exclusively in connection with such transfer.