Compute tax payable by Rajkumar for the Previous Year 2020-21: Taxable income of Rajkumar by normal rates of income tax is ₹2,10,000, Long-term capital gain (with indexing benefit) ₹2,00,000 and short term-capital gain t

CS Executive · Tax Laws and Practice · PYQS · June 2021
Compute tax payable by Rajkumar for the Previous Year 2020-21: Taxable income of Rajkumar by normal rates of income tax is ₹2,10,000, Long-term capital gain (with indexing benefit) ₹2,00,000 and short term-capital gain taxable u/s 111A is ₹4,00,000 (Securities Transaction Tax on such sale is paid). (Assuming assessee has not opted for section 115BAC)
(A) ₹2,10,000
(B) ₹1,00,000
(C) ₹95,680
(D) ₹60,000

Answer & Explanation:

Correct Answer: Option (C)

Official answer key: (C).

Topics: Income Tax Act, 1961

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