FASHION Inc., a notified Foreign Institutional Investor (FII), derived the following incomes during the financial year 2024-25:- (1) Dividend from…

Computation of total income of FASHION Inc., a notified FII, for A.Y.2025-26 Particulars ₹ Dividend income 7,15,000 Interest on securities [No deduction is allowable in respect of expenses incurred in respect thereof] 16,72,000 23,87,000 Long-term capital gains on sale of bonds of January Ltd. Sale consideration 58,00,000 Less: Cost of acquisition 33,00,000 15,00,000 [Benefit of indexation is not allowable] Short-term capital gains on sale of STT paid equity shares of Exe Ltd. Sale consideration 14,50,000 Less: Cost of acquisition 9,90,000 4,60,000 Short-term capital gains on sale of unlisted equity shares of May Ltd. Sale consideration 7,90,000 Less: Cost of acquisition 3,22,000 4,68,000 Total Income 48,15,000 Computation of tax liability of FASHION Inc. for A.Y.2025-26 Particulars ₹ Tax@20% on interest on securities and dividend = 20% x 23,87,000 4,77,400 Tax@10% on long-term capital gains on sale of bonds of January Ltd. = 10% x 15,00,000 1,50,000 Tax @ 20% on short-term capital gains on sale of listed equity shares of Exe Ltd., in respect of which STT has been paid = 20% of 4,60,000 92,000 Tax @ 30% on short-term capital gains on sale of unlisted equity shares of May Ltd. = 30% of 4,68,000 1,40,400 8,59,800 Add: HEC@4% 34,392 Tax liability 8,94,192 Tax liability (rounded off) 8,94,190