Mr. X acquires 1000 equity shares on 01.01.2018 at ₹ 200. The Fair Market Value of the said shares on 31.01.2019 is ₹ 500. He sold the said shares on 30.04.2020 at ₹ 400. Calculate the amount of capital gain assuming that securities transaction tax has been paid by Mr. X on acquisition and transfer of the said equity shares.
A. Nil
B. (-) ₹ 1,00,000
C. ₹ 2,00,000
D. ₹ 3,00,000
Answer:A
Mr. X acquires 1000 equity shares on 01.01.2018 at ₹ 200. The Fair Market Value of the said shares on 31.01.2019 is ₹ 500. He sold the said shares on 30.04.2020 at ₹ 400. Calculate the amount of capital gain assuming that securities transaction tax has been paid by Mr. X on acquisition and transfer of the said equity shares.
A. Nil B. (-) ₹ 1,00,000 C. ₹ 2,00,000 D. ₹ 3,00,000