Indexed cost of acquisition of the house property purchased for ₹ 80 lakh in June, 1998 and was sold in December, 2018 will be of ₹ (worked out by taking the CII of 1998-99 as 351; of the year 2001 -02 as 100; of the year 2020-21 as 301) and FMV of the house property as on 1st April, 2001 of ₹ 90 lakh, and stamp duty valuation on 1.4.2001 is 100 lakh.
A. ₹ 63,81,766
B. ₹ 90 lakh
C. ₹ 270.9 lakh
D. ₹ 71,79,487
Answer:C
Indexed cost of acquisition of the house property purchased for ₹ 80 lakh in June, 1998 and was sold in December, 2018 will be of ₹ (worked out by taking the CII of 1998-99 as 351; of the year 2001 -02 as 100; of the year 2020-21 as 301) and FMV of the house property as on 1st April, 2001 of ₹ 90 lakh, and stamp duty valuation on 1.4.2001 is 100 lakh.
A. ₹ 63,81,766 B. ₹ 90 lakh C. ₹ 270.9 lakh D. ₹ 71,79,487