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Ram purchased a house in Mumbai in March 2000 for Rs.3,50,000. In April,2009 he entered into an agreement to sell the property to Shyam for a consideration of Rs.1975000 and received earnest money of Rs.500000. As per the terms of the agreement, the balance payment was to be made within 30 days of the agreement. If the intending purchaser does not make the payment within 30 days, the earnest money would be forfeited. As Shyam could not make the payment within the stipulated time the amount of Rs.500000 was forfeited by Ram. Subsequently Ram sold the house in June,2009 for Rs.2130000. He paid 2% brokerage on sale of the house. Calculate the capital gains chargeable to tax for the assessment year 2010-11. [CII-12-13: 852,11-12: 785,10-11:711,09-00:389]

February 14, 2021GLO_CWM_LVL_1, ,

Ram purchased a house in Mumbai in March 2000 for Rs.3,50,000. In April,2009 he entered into an agreement to sell the property to Shyam for a consideration of Rs.1975000 and received earnest money of...

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Amit an industrialist wants to buy a flat in a housing society presently costing Rs. 35,00,000/- after 6 years. The cost of the house is expected to increase by 15% pea for the first 3 years and by 10% in the remaining years. Amit wants to start a SIP with monthly contributions in Birla Front Line Equity Mutual Fund to pay for the down payment of the house which would be 25% of the house value at that time. You as a CWM expect that the fund would give ROI of 14% p.a. compounded monthly in the next 10 years. Please advise Amit the monthly SIP amount starting at the beginning of every month for the next 6 years to fulfill his goal of buying the Flat he desires.

February 14, 2021GLO_CWM_LVL_1, ,

Amit an industrialist wants to buy a flat in a housing society presently costing Rs. 35,00,000/- after 6 years. The cost of the house is expected to increase by 15% pea for the first...

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Mr. Shikar wants to invest his savings in an account that pays an interest rate of 9.25% p.a. compounded annually at different ages of his son whose current age is 4 years. Please calculate for him the Future Value of these investments when his son turns 18.

February 14, 2021GLO_CWM_LVL_1, ,

Mr. Shikar wants to invest his savings in an account that pays an interest rate of 9.25% p.a. compounded annually at different ages of his son whose current age is 4 years. Please calculate...

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At the beginning of 2006 you have invested Rs 2000 in 40 Shares of ABC Ltd. During the year you received dividends @ 7 per share. At the end of 2006 you expect to sell share for Rs. 59. Compute return?

February 13, 2021GLO_CWM_LVL_1, ,

At the beginning of 2006 you have invested Rs 2000 in 40 Shares of ABC Ltd. During the year you received dividends @ 7 per share. At the end of 2006 you expect to...

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