§ 80
Chapter IV — Computation Of Total Income
Fair market value deemed to be full value of consideration in certain cases
Income-tax Act, 2025
When the amount received from selling a capital asset can't be determined, its fair market value at the time of sale is used for tax purposes. This is for calculating income from capital gains.
- The fair market value is used when the actual consideration is unknown.
📜 Official text of the section +
80. If the consideration received or accruing from the transfer of a capital asset
is not ascertainable or cannot be determined, its fair market value on the date
of transfer shall be deemed to be the full value of consideration received or accruing
as a result of such transfer for the purposes of computing income under the head
“Capital gains”.
Advance money received.
Plain-language summary — not the official text. Refer to the bare Act and confirm with a professional for your specific case.