Section 55A-Reference to Valuation Officer

Section 55A

Section 55A has provided the circumstances in which and the purposes for which; the tax authorities can refer the Valuation Officer for valuation of the capital asset. Section 55A-Reference to Valuation Officer As per section 55A of the Income Tax Act, intending to ascertain the fair market value of the capital asset; the assessing officer may refer the valuation of a capital asset to a valuation officer. The circumstances in which the assessing officer can refer to the valuation officer are as follows: a) In the case, where the value…

Read More