Section 80
Section 80: fair market value deemed to be full value of consideration in certain cases
Section 80 is a short fallback rule: if the actual consideration for transfer of a capital asset is not ascertainable or cannot be determined, the fair market value of the asset on the date of transfer is used instead, to compute income under "Capital gains."
What Section 80 says
"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'."
Frequently asked questions
What consideration figure is used if the actual sale price of a capital asset cannot be determined?
The fair market value of the asset as on the date of transfer, per Section 80.
Related sections
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