A building was acquired on 1-4-1995 for ₹ 20,00,000 and sold for ₹ 80,00,000 on 1-6-23. The fair market value of the building on 1-4-2001 was ₹ 25,00,000. Its stamp duty value on the same date was ₹ 22,00,000. Determine
CS Executive · Tax Laws · PYQS · June 2024
A building was acquired on 1-4-1995 for ₹ 20,00,000 and sold for ₹ 80,00,000 on 1-6-23. The fair market value of the building on 1-4-2001 was ₹ 25,00,000. Its stamp duty value on the same date was ₹ 22,00,000. Determine the capital gains on sale of such building for the A.Y. 2024-25? CII for F.Y. 2001-02 : 100; F.Y. 2023-24 : 348
Answer & Explanation:
Correct Answer: Option (A)
Official answer key: (A).
Topics: Income Tax
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