Mr. Aryan, a resident individual, is working in Nishchay Ltd. and earns salary of 90,000 per month during P.Y. 2024-25. He holds 20,000 equity…

Computation of total income of Mr. Aryan for A.Y. 2025-26 Particulars Particulars ₹ I Salaries Salary from Nishchay Ltd. [₹ 90,000 x 12] 10,80,000 Less: Deduction under section 16 - Standard deduction upto 75,000 75,000 10,05,000 II Capital Gains On buy back of equity shares of Alpha Ltd. Consideration received on buy back of shares Nil Less: Cost of acquisition 20,00,000 Higher of - Actual cost of acquisition of 20lakhs [10,000 shares @200 per share] - Lower of FMV as on 31.1.2018 i.e.,19 lakhs and full value of consideration i.e., Nil Long term capital loss on buy back of shares (20,00,000) On sale of plot Sale consideration 70,00,000 Less: Brokerage @1% 70,000 Net sale consideration 69,30,000 Less: Cost of acquisition [Indexation benefit is not available on transfer which took place on or after 23.7.2024] 22,00,000 47,30,000 Less: Exemption under section 54F 27,30,159 Amount invested in residential house within 2 years would qualify for exemption against long term capital gain arising from transfer of plot. Since the amount invested is less than the net consideration, proportionate capital gains is exempt [₹ 47,30,000 x 40,00,000/69,30,000] Long term capital gain on transfer of plot 19,99,841 Less: Set off of long term capital loss on buy back of original shares against long term capital gain on transfer of plot to the extent of 19,99,841 Nil Balance long term capital loss of 159on buy back of original shares is to be carried forward to A.Y. 2026-27 III Income from Other Sources Dividend on buy back of shares [10,000 x 250] 25,00,000 Total Income 35,05,000