Mrs. Lakshmi purchased shares of ABB Ltd. for ₹ 5 lakhs on 3rd April, 2017. The shares were sold on 5th June, 2019 for ₹ 7 lakhs. She paid STT of ₹ 700 and brokerage of ₹ 500. Capital gain chargeable to tax:
A. Nil, as it is exempt u/s 10(38)
B. @ 10% u/s 112A without benefit of indexation (in excess of ₹ 1,00,000)
C. @ 20% u/s 112 without benefit of indexation
D. @ 10% u/s 112A with benefit of indexation (in excess of ₹ 1,00,000)
Answer:B
Mrs. Lakshmi purchased shares of ABB Ltd. for ₹ 5 lakhs on 3rd April, 2017. The shares were sold on 5th June, 2019 for ₹ 7 lakhs. She paid STT of ₹ 700 and brokerage of ₹ 500. Capital gain chargeable to tax:
A. Nil, as it is exempt u/s 10(38) B. @ 10% u/s 112A without benefit of indexation (in excess of ₹ 1,00,000) C. @ 20% u/s 112 without benefit of indexation D. @ 10% u/s 112A with benefit of indexation (in excess of ₹ 1,00,000)