5 Negative Marks:0 Mr.Ghosh sold a house on 01.09.2019 for Rs.15,00,000. This house was inherited by him during 2002-2003 from his father who had constructed it in 1992-93 for Rs.50,000. Mr.Ghosh spent Rs.50,000 on renovation of the house in 2007-2008. Fair market value of the house as on 01.04.2001 was Rs.4,50,000. This house was under negotiation for sale in May 2011 and he received Rs.20,000 as advance money. The contract could not materialize and the advance money was forfeited. Compute the amount of capital gain assuming that he does not qualify for any exemption. [C.I.I for 2002-2003 - 105; 2007-2008 - 129; 2011-2012 - 184 8 2010. 2020 - 289.] Ghosh sold a house on 01.09.2019 for Rs.15,00,000. This house was inherited by him during 2002-2003 from his father who had constructed it in 1992-93 for Rs.50,000. Mr.Ghosh spent Rs.50,000 on renovation of the house in 2007-2008. Fair market value of the house as on 01.04.2001 was Rs.4,50,000. This house was under negotiation for sale in May 2011 and he received Rs.20,000 as advance money. The contract could not materialize and the advance money was forfeited. Compute the amount of capital gain assuming that he does not qualify for any exemption. [C.I.I for 2002-2003 - 105; 2007-2008 - 129; 2011-2012-184 & 2010 2020 - 289.]