Question

Q18. Ali has 10,000 shares of X (P) Ltd. acquired on 15/05/1981 for Rs. 12 each. On 15/07/1983 he converted 6,000 of such shares into stock in trade. On that date, market value of such share was Rs.15 each. On 1/05/2007, he further converted 2,000 of such shares into stock in trade. On such date, market value of the share was Rs.30 each. On 17/02/2020, he sold all shares for Rs.225 each. Brokerage incurred 2%. State tax treatment. Fair market value of such shares as on 01-04-2001 was Rs.16/-. 2011​

Answer 1

Answer:

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Explanation:

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Answer 2

Answer:

67

Explanation:

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