Valuation of Shares ,Jewellery & Arts Under Sec. 56(2) Simplified !

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Now if you get gifts from anyone who is not your blood relative or persons specified u/s 56(2) of the Income Tax Act, the value of the gifts can be added in hand of recipients . The law now , taxes , almost all kinds of gifts-jewellery,land,shares ,paintings etc. How is the valuation of shares and other gifted properties can be done under Income Tax Act for the purpose of section 56(2) , is the central point for this post.

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