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]
