Dr. Sam sold a vacant land to Mr. Roy for ₹ 36 lakhs, For stamp-duty purposes, the value of land was X 41 lakhs. The indexed cost of acquisition of land was computed at ₹ 20 lakhs. The taxable long-term capital gain would be:
A. ₹ 2lakhs
B. ₹ 16 lakhs
C. ₹ 5 lakhs
D. ₹ 20 lakhs
Answer:A
Dr. Sam sold a vacant land to Mr. Roy for ₹ 36 lakhs, For stamp-duty purposes, the value of land was X 41 lakhs. The indexed cost of acquisition of land was computed at ₹ 20 lakhs. The taxable long-term capital gain would be:
A. ₹ 2lakhs B. ₹ 16 lakhs C. ₹ 5 lakhs D. ₹ 20 lakhs