Ms. Netra acquired 1000 equity shares of MMC Ltd. for ₹ 4 lakhs in April, 1996. She received bonus shares on 1: 1 basis in April, 2016 from the company. She sold all the shares in January, 2017 through a recognized stock
CS Executive · Tax Laws and Practice · PYQS · June 2017
Ms. Netra acquired 1000 equity shares of MMC Ltd. for ₹ 4 lakhs in April, 1996. She received bonus shares on 1: 1 basis in April, 2016 from the company. She sold all the shares in January, 2017 through a recognized stock exchange for ₹ 8 lakhs. The capital gain chargeable to tax in the hands of Ms. Netra for the assessment year 2017-18 is:
Answer & Explanation:
Correct Answer: Option (A)
Official answer key: (A).
Topics: Income Tax
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