On 01.05.2024, ABC Ltd. (a listed co.) offered right shares in the ratio of 1:10 at a value of 50 per share. One of the shareholders, Mr. Sahil had…

On 01.05.2024, ABC Ltd. (a listed co.) offered right shares in the ratio of 1:10 at a value of 50 per share. One of the shareholders, Mr. Sahil had 50,000 shares of ABC Ltd. on the date of offer of rights issue. He retains 30% of the rights and renounced balance right shares in favour of his friend, Mr. Jay for 15 per share on 28.05.2024. Mr. Sahil transferred 10,000 shares out of his original shares on 15.07.2024 for 65 per share. He had acquired these 10,000 shares at a cost of 2,38,000 on 21.6.2021. Further, Mr. Jay transferred the shares acquired from Mr. Sahil for 80 per share on 26.02.2025. XYZ Pvt. Ltd. bought back 80,000 shares on 14.12.2024 at a value of 160 per share. Such shares were issued for 20 per share (₹ 10, being the face value and - 10, being premium) during the F.Y. 2012-13. Such bought back include 6,250 shares of Mr. Sahil (which he acquired on 28.5.2022 for 36.80 per share) and 250 shares of Mr. Rahul (which was inherited from his father). Rahul's father acquired these shares on 24.5.2020 for 10 per share. Apart from this transaction, Mr. Rahul has income under head "Salaries" of 12,42,000 (computed), on which no tax is withheld by the employer. Assume Mr. Sahil does not have any other income for the P.Y. 2024-25. STT has been paid pertaining to the shares of ABC Ltd.