Purchased shares from younger brother for ₹ 1 lakh when the market value of the shares was ₹ 1,35,000. Amount of income chargeable to tax in respect to the above transactions would be:
A. ₹ 1,48,000
B. ₹ 48,000
C. ₹ 80,000
D. Nil
Answer:D
Purchased shares from younger brother for ₹ 1 lakh when the market value of the shares was ₹ 1,35,000. Amount of income chargeable to tax in respect to the above transactions would be:
A. ₹ 1,48,000 B. ₹ 48,000 C. ₹ 80,000 D. Nil