Question

Q.3. (a) Mr. Yadav, the owner of a firm furnished the following information for the previous

year 2019-20. Compute taxable Capital Gain for the Assessment year 2020-21. 10+10=20

(i) Asset type: Machinery (Depreciable)

Rate of Depreciation

15%

Written down value of the block on 1.04.2019

Rs. 2,00,000

Asset purchased on 1.10.2019

Rs. 1,50,000

Sale proceeds of old Machinery ( Book value as on 1.04.2019 – 1,20,000) Rs. 4,00,000

(ii) Asset Type : Land



Date of Acquisition

27.01.2002

Date of Sale

22.03.2020

Cost of Acquisition

Rs. 6,00,000

Sale proceeds

Rs. 30,00,000​

Answer 1

Answer:

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Explanation:

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