Purushotam has transferred 250 equity shares of TCS Ltd. (a listed company) on 1st March, 2022 @ ₹3,200 per share and paid securities transaction tax on the same. He purchased these shares on 1st January, 2017 @ 2400 per
CS Executive · Tax Laws · PYQS · December 2022
Purushotam has transferred 250 equity shares of TCS Ltd. (a listed company) on 1st March, 2022 @ ₹3,200 per share and paid securities transaction tax on the same. He purchased these shares on 1st January, 2017 @ 2400 per share. The Quoted Price of TCS Ltd. share on 31st January, 2018 was ₹2,550 per share. What will be the taxability in hands of Purushotam for assessment year 2022-23? (Cost inflation index for F.Y. 2016-17 = 264, 2017-18 = 272 and 2021-22 = 317)
Answer & Explanation:
Correct Answer: Option (C)
Official answer key: (C).
Topics: Income Tax Act, 1961
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