section $44$ C

Adjusted total income

Less: Head Office expenses allowable u$/$s $44$ C is the lower of $-$

$($i$)5$ lakhs, being $\backslash (5\backslash \%\backslash )$ of $100$ lakhs, or

$($ii$)200$ lakhs.r

Income to be declared in return

Question $10$

MOST LDR TTBR$|$TTSR

Sir. A$,$ a non$-$resident Indian, remits US $\backslash (\backslash$$ $40,000^\{\backslash$text $\{$th $\}\}\backslash )$ to India on $16\mathrm{.}09\mathrm{.}2006.$ The amount is partly utilised on $3\mathrm{.}10\mathrm{.}2006$ for purchasing $10,000$ equity shares in A Ltd$,$ an Indian Company, at the rate of $12$ per share. These shares are sold for $"48$ per share on $30\mathrm{.}03\mathrm{.}2024.$ Fair market value of these shares on $31\mathrm{.}01\mathrm{.}2018$ was $\backslash (3\backslash$overline$\{5\}\backslash )$ per share. The telegraphic transfer buying and selling rate of US dollars adopted by the State Bank of India is as follows:$-$

Compute the capital gain chargeable to tax for the A$.$Y$.2024-25$ on the assumption that $($a$)$ These shares have not been sold through a recognised stock exchange

$($b$)$ These shares have been purchased and sold through a recognised stock exchange.

Solution