Question

Mr. Mithun purchased 100 equity shares of M/s Goodmoney Co. Ltd. on 01-04-2005 at rate

of 1,000 per share in public issue of the company by paying securities transaction tax.

Company allotted bonus shares in the ratio of 1:1 on 01.12.2019. He has also received

dividend of 10 per share on 01.05.2020. He has sold all the shares on 01.10.2020 at the rate

of 4,000 per share through a recognized stock exchange and paid brokerage of 1% and

securities transaction tax of 0.02% to celebrate his 75th birthday. Compute his total income

and tax liability for Assessment Year 2021-22, assuming that he is having no income other

than given above. Fair market value of shares of M/s Goodmoney Co. Ltd. on 31.1.2018 is

2,000.​

Answer 1

Answer:

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