Question

13. Mr. Rahul purchased 1000 shares of Nirma Ltd. @ 78.174 per share in August,
2007. During the year 2012-13 he received 500 bonus shares from the company.
He was allotted 1000 right shares on 28-10-2013 for Rs. 1,04,237. All the 2500
shares were sold by him on 20-6-2018 @ Rs. 600 per share. He paid commission
equal to 2% of the sale price. He acquired a plot of land on 15-7-2018 for Rs.
2,00,000 and spent Rs. 6,00,000 on the construction of the house on this land by
31-3-2019. He deposited Rs. 4,00,000 on 25-7-2019 in the Capital gains Account
Scheme. He further deposited a sum of Rs. 1,00,000 on 20-11-2019 in the Capital
gain Account Scheme. He already owned one residential house on 20-6-2018.
The Cost inflation index for the year 2007-08, 2012-13 and 2013-14 are 129, 200
and 220 respectively.
Compute the amount of Capital gains taxable for the assessment year 2019-20.
Assume that the shares have been sold outside a recognised stock exchange.
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Answer 1

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gain Account Scheme. He already owned one residential house on 20-6-2018.

The Cost inflation index for the year 2007-08, 2012-13 and 2013-14 are 129, 200

and 220 respectively.

Compute the amount of Capital gains taxable for the assessment year 2019-20.

Assume that the shares have been sold outside a recognised stock exchange.

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Explanation: