Where an undisclosed income in the form of investment in asset is declared under the Scheme and tax, surcharge and penalty is paid on the fair market value of the asset as on 01.06.2016, then will the declarant be liable for capital gains on sale of such Assets?

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... declarant be liable for capital gains on sale of such Assets?
FAQs on the Income Declaration Scheme, 2016 - Income Tax - Frequently Asked Questions (FAQs)
Income Tax
Ans. Yes, the declarant .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... the period of holding shall start from the said date (i.e. the date of determination of fair market value for the purposes of the Scheme).
Manuals, Ready reckoner, Law and practice, Reference Guid .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X