On 01-06-2017 Kamlesh transferred his vacant land to Rajesh for ₹ 12 lakhs. The land was acquired on 01-09-2014 for ₹ 3 lakhs. If indexation is applied, the indexed cost of acquisition would be ₹ 3.30 lakhs. The taxable
CS Executive · Tax Laws and Practice · PYQS · December 2017
On 01-06-2017 Kamlesh transferred his vacant land to Rajesh for ₹ 12 lakhs. The land was acquired on 01-09-2014 for ₹ 3 lakhs. If indexation is applied, the indexed cost of acquisition would be ₹ 3.30 lakhs. The taxable capital gain would be:
Answer & Explanation:
The official key records '*'. This question is excluded from automatic grading because the source does not supply an unambiguous valid choice. Official source note: Date of transfer of property is 01.06.2017 and related to FY 2017-18 and not cover by Finance Act 2016.
Topics: Income Tax
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