Surya brought a gold chain FMV ₹ 1,80,000 for ₹ 1,32,000 from a friend and another friend sold him a gold ring with FMV ₹ 24,000 for ₹ 10,000, the amount taxable in the hands of Surya as income from other sources will be:
A. ₹ 2,04,000
B. Nil
C. ₹ 62,000
D. ₹ 1,42,000
Answer:C
Surya brought a gold chain FMV ₹ 1,80,000 for ₹ 1,32,000 from a friend and another friend sold him a gold ring with FMV ₹ 24,000 for ₹ 10,000, the amount taxable in the hands of Surya as income from other sources will be:
A. ₹ 2,04,000 B. Nil C. ₹ 62,000 D. ₹ 1,42,000