A flat in Jaipur was booked by Aditi for ₹30 lakh with UDB Builders on 01.09.2017 and an amount of ₹10 lakh was paid by account payee cheque. The possession of flat was given by the builder on 13.01.2020. The Stamp Valua

CS Executive · Tax Laws · PYQS · December 2020
A flat in Jaipur was booked by Aditi for ₹30 lakh with UDB Builders on 01.09.2017 and an amount of ₹10 lakh was paid by account payee cheque. The possession of flat was given by the builder on 13.01.2020. The Stamp Valuation Authority have determined the value of the flat on the date of booking at ₹35,00,000 and on the date of possession given by the builder after execution of conveyance deed at ₹45,00,000. Find out the amount if any, chargeable to tax in respect of this flat in the hands of Aditi in the A.Y. 2020-21 under the head 'Income from other sources'.
(A) ₹15,00,000
(B) NIL
(C) ₹5,00,000
(D) ₹10,00,000

Answer & Explanation:

Correct Answer: Option (C)

Official answer key: (C).

Topics: Income from Other Sources

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