X Ltd. an Indian Company, sells the following asstes outside a recognised stock exhange on may 19,2009
sale consideration | Gov. securities | Pref. Shares (listed) | |
Sale consideration | 80,000 | 5,92,000 | |
Cost of acquistion | 70,000 | 1,00,000 | |
Date of purchase | 19/4/2008 | 28/4/1984 |
Find out the amount of tax liability for the A.Y. 2010-11 on the following assumptions-
a. income of X ltd. from business rs. 5,56,000;
b. amount invested in NSC VIII issued on Marh 31,2010 rs. 1,00,000.
Plz reply fast.