CWM_LEVEL_2 Exam Dumps | Section C (4 Mark) Read the senario and answer to the question. Nimita purchased 500 shares of ABC Ltd.,

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Question 165/431

Section C (4 Mark)
Read the senario and answer to the question.
Nimita purchased 500 shares of ABC Ltd., a listed company at Rs. 45 per share on Sep. 15,2002. The company offered to buy back its shares on June 15, 2009 which Nimita accepted at a price of Rs. 75 per share on Jul 1, 2009. What is the tax liability in the hands of Nimita for this transaction for Assessment Year
2010-11? Cost inflation indices are 2002-03: 447 and 2009-10 632. (Ignore Education Cess)

A. Rs. 3,000

B. Rs. 1,140

C. Nil

D. Rs. 1,500

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