On 15th November, 2020, Mohan sold 1 kg of gold, the sale consideration of which was ₹ 1,14,000. He had acquired the gold on 11th December, 2000 for ₹ 59,535. Fair market value of 1 kg gold on 1st April, 2001 was ₹ 52,000. The amount of capital gains chargeable to tax for the AY 2021 -22 shall beta)
A. 17,200
B. 50,000
C. (65,200) loss
D. (70,080) loss
Answer:C
On 15th November, 2020, Mohan sold 1 kg of gold, the sale consideration of which was ₹ 1,14,000. He had acquired the gold on 11th December, 2000 for ₹ 59,535. Fair market value of 1 kg gold on 1st April, 2001 was ₹ 52,000. The amount of capital gains chargeable to tax for the AY 2021 -22 shall beta)
A. 17,200 B. 50,000 C. (65,200) loss D. (70,080) loss