Question

TAX LAW
Listed debentures
12-4-2005
Q. No. 27
Mr. G submits the following information about sale of assets during the previous year 2019-20 [CLI: 289)
Asset
Residential House
Plot
Date of acquisition
11-3-2002
1-7-2004
C.I.T.
100
113
117
Cost of acquisition
4,10,000
90,000
Date of sale
15-5-2019
17-5-2019
16-5-2019
Sale price
20,00,000
4,00,000
4,00,000
Investment :
Date of acquisition Amount invested
Residential House
19-11-2019
16,00,000
Bonds of Rural Electrification Corporation 15-11-2019
1,20,000
2,00,000

Answer 1

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