Capital gain
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
16 October 2015
Compute the capital gain in the hands of Mr Rohan who has transferred the following assets during
the previous year 2007-08:
Name of The asse- Goodwill of a business Cost of acqistiion Rs Nil,FMV on 1st april 1981 Rs 40000 and full value of considerations Rs 400000.
Name of the asset-tanancy right of a commercial building cost of acquisition Rs Nil FMV on 1st april 1981 Rs 100000 and full value consideration rs 6000000.
Asset-Route permits cost of acquisition rs Nil FMV on 1st april 1981 rs 50000 and full value of consideration Rs 500000 .
Asset-Shares acquired in 1978 cost of acquisition rs 70000 FMV On 1st april 1981 rs 50000 and full value of consideration rs 400000.
ii) Would your answer change if the Goodwill transferred is of a profession instead of business?
iii) What shall be your answer if the shares are sold through a recognized stock exchange on 1st December 2007
the previous year 2007-08:
Name of The asse- Goodwill of a business Cost of acqistiion Rs Nil,FMV on 1st april 1981 Rs 40000 and full value of considerations Rs 400000.
Name of the asset-tanancy right of a commercial building cost of acquisition Rs Nil FMV on 1st april 1981 Rs 100000 and full value consideration rs 6000000.
Asset-Route permits cost of acquisition rs Nil FMV on 1st april 1981 rs 50000 and full value of consideration Rs 500000 .
Asset-Shares acquired in 1978 cost of acquisition rs 70000 FMV On 1st april 1981 rs 50000 and full value of consideration rs 400000.
ii) Would your answer change if the Goodwill transferred is of a profession instead of business?
iii) What shall be your answer if the shares are sold through a recognized stock exchange on 1st December 2007
Amol S Joglekar
(Expert)
16 October 2015
What is the purpose of asking the numerical for 2007-08? Any specific reason?
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