Mr. Madan sold a vacant land for ₹ 120 lakhs on 10-10-2016. The indexed cost of acquisition amounts to ₹ 18 lakhs. He deposited ₹ 50 lakhs in REC bonds in January 2017 and another ₹ 50 lakhs in March, 2017. The amount of
CS Executive · Tax Laws and Practice · PYQS · June 2017
Mr. Madan sold a vacant land for ₹ 120 lakhs on 10-10-2016. The indexed cost of acquisition amounts to ₹ 18 lakhs. He deposited ₹ 50 lakhs in REC bonds in January 2017 and another ₹ 50 lakhs in March, 2017. The amount of capital gain liable to tax after deduction under section 54EC is:
Answer & Explanation:
Correct Answer: Option (B)
Official answer key: (B).
Topics: Income Tax
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