Manjula (age 62) sold a vacant land for ₹45,15,000 on 05.02.2021. The said land was acquired by her on 07.01.2019 for ₹28,00,000. She deposited ₹5 lakhs in Rural Electrification Bond on 30.03.2021. Cost inflation index:
CS Executive · Tax Laws · PYQS · June 2021
Manjula (age 62) sold a vacant land for ₹45,15,000 on 05.02.2021. The said land was acquired by her on 07.01.2019 for ₹28,00,000. She deposited ₹5 lakhs in Rural Electrification Bond on 30.03.2021. Cost inflation index: FY 2018-19 = 280; FY 2020-21 = 301. Compute the capital gain chargeable to tax for the assessment year 2021-22.
Answer & Explanation:
Correct Answer: Option (B)
Official answer key: (B).
Topics: Income Tax
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