From the following information, compute the taxable capital gains of Sanjay: He sold his self generated goodwill for ₹15,00,000 after using it for six years. He spent ₹1,50,000 for the development of the goodwill. The bo

CS Executive · Tax Laws and Practice · PYQS · December 2013
From the following information, compute the taxable capital gains of Sanjay: He sold his self generated goodwill for ₹15,00,000 after using it for six years. He spent ₹1,50,000 for the development of the goodwill. The bonus shares (not listed) held by him in RK Ltd. were sold for ₹4,20,000 on 28th March, 2013. The face value of the shares which were allotted in May, 2012 was ₹2,50,000. Short-term capital loss from the transfer of a building used for his business ₹1,00,000. A car purchased by him for ₹5,00,000 in 2005-06 for personal use, was sold on 1st July, 2012 for ₹2,10,000.

Topics: Income Tax Act, 1961

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