Question

Mr. Manas purchased the agricultural land in 2003-04 for Rs. 2,32,000 and sold for Rs. 12,00,000 in December 2019. He Purchased another agricultural land in January 2020, for Rs. 1,00,000 and deposited Rs. 60,000 in April 2020 in Capital Gain Account Scheme 1988. Compute the taxable capital gain of Mr. Manas for A.Y. 2020-21. The cost inflation index in 2003-04 was 109 and in 2019-20, 289.​

Answer 1

Explanation:

A.Y. 2020-21. The cost inflation index in 2003-04 was 109 and in 2019-20, 289.