Posted by: Pdfprep
Post Date: January 26, 2021
Akash owns a piece of land situated in Kolkata ( Date of acquisition : March 1, 1983, Cost of acquisition Rs. 20,000/- value adopted by Stamp duty authority at the time of purchase Rs. 45,000/-) On March 30, 2012 the piece of land is transferred for 4 lakh. Find out the capital gains chargeable to tax if the value adopted by the Stamp duty authority is 5.75 lakh. And X files an appeal under the Stamp Act and Stamp duty valuation has been reduced to Rs. 4.90 lakh by the Kolkata High Cout. [CII-12-13: 852,11-12: 785,10-11:711]
A . Rs. 4,05,963/
B . Rs. 3,45,963/
C . Rs. 3,80,963/
D . Rs. 4,15,963/
Answer: B