
Dear Professional Seniors & Friends,
Warm Greeting!
Here is the Next post of #MCQ on concept based practical knowledge on Cost of Acquisition & Period of Holding in the case of Gift in a unique manner to be self answered by participants. The detailed answer of these MCQs shall be posted next day for the self assessment of the participants.
MCQ 89.1: Disha’s Father purchase a property worth Rs 50 Lakhs in 1990. Her father had spent Rs 10 lakhs on improvement in year 1998. At the time of marriage of Disha, her father gifted that property to Disha in year 2005 at which time fair market value of the property was Rs 75 Lakhs? She had spent Rs 20 lakhs on improvement in year 2008.The cost of acquisition & improvement for disha shall be?
A. Rs 50 Lakhs & Rs 10 Lakhs.
B. Rs 75 Lakhs & Rs 20 Lakhs.
C. Rs 50Lakhs & Rs 30 Lakhs.
D. Rs 75 Lakhs & Rs 30 Lakhs.
MCQ 89.2: What will be the period of holding in the above case if the property is sold out in year 2018?
A. 1990 – 2018.
B. 2005 – 2018.
C. 2001 – 2018.
D. None of the Above.
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CA Sanjay Kumar Agrawal
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Dear Professional Seniors & Friends,
Warm Greetings!
This post of MCQ is on provisions relating to professional misconduct in relation to members generally.
Answer MCQ 89.1: C) Rs 50Lakhs & Rs 30 Lakhs.
Answer MCQ 89.2: A) 1990 – 2018.
Practical Analysis for MCQ 89.1:
Practical Analysis for MCQ 89.2:
(Disclaimer: The objective of the MCQ post is just to discuss the concept, it may happen, by change of facts, the answer may be different. Please do not treat this as professional opinion; you can definitely have your own opinion.)
Sincere Regards!
CA Sanjay Kumar Agrawal
Mobile: 9810116321
To access MCQ posts regularly, please Join Telegram Channel:
https://t.me/caSanjayKumarAgrawal
For All MCQ post please click on:
Webpage: http://www.casanjay.me/
Facebook: https://www.facebook.com/CA.Sanjay.K.Agrawal/
Linkedin: https://www.linkedin.com/in/ca-sanjay-kumar-agrawal/
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