In P.Y. 2024-2025, Mr. Arun has transferred the following long term capital assets: Asset transferred Full Value of Consideration (₹) Cost of…
CA Intermediate · Taxation · MTP · May 2025
In P.Y. 2024-2025, Mr. Arun has transferred the following long term capital assets: Asset transferred Full Value of Consideration (₹) Cost of Acquisition (₹) Transfer Date Residential house property 8 crores 6 crores 25.11.2024 Jewellery 3 crores 2 crores 05.01.2025 Mr. Arun bought a new residential house property on 01.04.2023 for 1 crore and on 28.02.2025 deposited 3 crores in a capital gains deposit account scheme. On 01.05.2025, Mr. Arun has withdrawn 3 crores from capital gains deposit account and acquired a residential house property worth - 2.5 crore. What would be the capital gains in the hands of Mr. Arun for A.Y. 2025-26, if the expenses in connection with transfer of jewellery were - 2,00,000?
Suggested Answer and Working Notes:
Correct Answer: Option (D)
₹ 48,00,000
Topics: Paper 3B: Goods and Services Tax, Paper 3A: Income Tax Laws
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