Indexed cost of acquisition of the house property purchased for ₹80 lakh in June, 1998 and was sold in December, 2018 will be of __________ (worked out by taking the CII of 1998-99 as 351; of the year 2001-02 as 100; of
CS Executive · Tax Laws · PYQS · December 2019
Indexed cost of acquisition of the house property purchased for ₹80 lakh in June, 1998 and was sold in December, 2018 will be of __________ (worked out by taking the CII of 1998-99 as 351; of the year 2001-02 as 100; of the year 2018-19 as 280) and FMV of the house property as on 1st April, 2001 of ₹90 lakh.
Answer & Explanation:
Correct Answer: Option (C)
Official answer key: (C).
Topics: Income Tax Act, 1961
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