When shares of a listed company held for more than 36 months are transferred privately for ₹8 lakh, with original cost of acquisition of ₹1 lakh whose indexed cost of acquisition is ₹2 lakh, the income-tax payable would

CS Executive · Tax Laws and Practice · PYQS · December 2015
When shares of a listed company held for more than 36 months are transferred privately for ₹8 lakh, with original cost of acquisition of ₹1 lakh whose indexed cost of acquisition is ₹2 lakh, the income-tax payable would be
(A) ₹1,44,200
(B) ₹72,100
(C) ₹1,23,600
(D) ₹61,800.

Answer & Explanation:

Correct Answer: Option (B)

Official answer key: (B).

Topics: Income Tax Act, 1961

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