What is Fair market value deemed to be full value of consideration in certain cases Advance money received? Section 50D and 51 of Income Tax Act 1961

Fair market value deemed to be full value of consideration in certain cases and Advance money received are defined under section 50D and 51 of Income Tax Act 1961. Provisions under these Sections are:

Section 50D of Income Tax Act "Fair market value deemed to be full value of consideration in certain cases"

50D. Where the consideration received or accruing as a result of the transfer of a capital asset by an assessee is not ascertainable or cannot be determined, then, for the purpose of computing income chargeable to tax as capital gains, the fair market value of the said asset on the date of transfer shall be deemed to be the full value of the consideration received or accruing as a result of such transfer.

Section 51 of Income Tax Act "Advance money received"

51. Where any capital asset was on any previous occasion the subject of negotiations for its transfer, any advance or other money received and retained by the assessee in respect of such negotiations shall be deducted from the cost for which the asset was acquired or the written down value or the fair market value, as the case may be, in computing the cost of acquisition :

Provided that where any sum of money, received as an advance or otherwise in the course of negotiations for transfer of a capital asset, has been included in the total income of the assessee for any previous year in accordance with the provisions of clause (ix) of sub-section (2) of section 56, then, such sum shall not be deducted from the cost for which the asset was acquired or the written down value or the fair market value, as the case may be, in computing the cost of acquisition.