Cost of acquisition in case of bonus shares allotted before 1.4.1981 will be —

CS Executive · Tax Laws and Practice · PYQS · December 2014

(A) Face value on the date of allotment

(B) Nil

(C) Market value as on 1.4.1981

(D) Current market value.

Answer & Explanation:

Correct Answer: Option (C)

Correct answer: (C) Market value as on 1.4.1981. This answer applies to the historical law and assessment-year context of this December 2014 paper; later amendments may differ.

Topics: Income Tax Act, 1961

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Cost of acquisition in case of bonus shares allotted before 1.4.1981 will be —

Answer & Explanation:

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