a) Dr. Arjun Das sold some ornaments on 1.9.2017 for 26,40,000. The cost of transfer was 1,40,000. Dr. Das had purchased these ornaments during 1985-86 for 1,75,000. Dr. Das purchased a residential house on 1.12.2017 for $11,00,000. Assuming that Dr. Das does not own any other residential house on 1.9.2017. Calculate his taxable income from capital gains for the assessment year 2018-19. The cost index in the year 1985-86 was 133 and 2017-18 was 272.
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Dr. Arjun Das sold some ornaments on 1.9.2017 for 26,40,000. The cost of transfer was 1,40,000. Dr. Das had purchased these ornaments during 1985-86 for 1,75,000. Dr. Das purchased a residential house on 1.12.2017 for $11,00,000. Assuming that Dr. Das does not own any other residential house on 1.9.2017. Calculate his taxable income from capital gains for the assessment year 2018-19. The cost index in the year 1985-86 was 133 and 2017-18 was 272.
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