Section 48 of Income Tax Act,1961:Mode of Computation
#mode #computation #capitalgains #provisions The section states that: The income chargeable under the head "Capital gains" shall be computed, by deducting from the full value of the consideration received or accruing as a result of the transfer of the capital asset the following amounts, namely :— (i) expenditure incurred wholly and exclusively in connection with such transfer; (ii) the cost of acquisition of the asset and the cost of any improvement thereto; [(iii) in case