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Direct Taxation
In this question i can't understand how 350 came . Also i can't understand how they are calculating tax for income from other source
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Thread Starter
sriram kannanThank u sir Also could you please explain me why in this problem they didn't take fmv of 31.03.2018
It is applicable only when STT has been paid on purchase and sale of shares. In the given question, it was given that security transaction tax was not paid. So, 112A is not applicable and taxed as per Section 112
Yoga Vishnu
1. It was given wrong. Take purchase cost as (800 x 400) and give indexation benefit. 2. Apply slab rates for tax on income from other sources.
Thank u sir Also could you please explain me why in this problem they didn't take fmv of 31.03.2018
Thread Starter
sriram kannanThank u sir Also could you please explain me why in this problem they didn't take fmv of 31.03.2018
Sir then only if stt is paid fmv is taken
Thread Starter
sriram kannanSir then only if stt is paid fmv is taken
Yes. If Section 112A applies, then only we have to take FMV as on 31st Jan 2018 into consideration. Sec 112A is applicable only when STT has been paid on acquisition and transfer of capital assets.
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