Question:
X purchased a piece of land on 4 January 1978 for 50,000. The land was sold by him on 2 September 2021 for 17,00,000. The market value of the land as on 1 April 2001 was 5,11, 200. Expenses on transfer were 2% of the sales price. The capital gain for the assessment year 2022-23 is: [Cost Inflation Index for 2021-22 is 317]
X purchased a piece of land on 4 January 1978 for 50,000. The land was sold by him on 2 September 2021 for 17,00,000. The market value of the land as on 1 April 2001 was 5,11, 200. Expenses on transfer were 2% of the sales price. The capital gain for the assessment year 2022-23 is: [Cost Inflation Index for 2021-22 is 317]
Updated On: Jun 22, 2024
- ₹ 45,496
- ₹ 50,000
- ₹ 16,66,000
- ₹ 11,54,800
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The Correct Option is A
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The correct option is (A):₹ 45,496
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