Rakesh acquired a motor car for ₹ 3,00,000 from his friend (non-relative) when the fair market value of the motor car was ₹ 5,00,000. The amount liable to tax in the hands of Rakesh from the transaction is:

  1. Home

Question:Rakesh acquired a motor car for ₹ 3,00,000 from his friend (non-relative) when the fair market value of the motor car was ₹ 5,00,000. The amount liable to tax in the hands of Rakesh from the transaction is:

1. ₹ 3,00,000

2.₹ 2,00,000

3.₹ 1,50,000

4. Nil

Posted by R4R Team
  1. Rakesh acquired a motor car for ₹ 3,00,000 from his friend (non-relative) when the fair market value of the motor car was ₹ 5,00,000. The amount liable to tax in the hands of Rakesh from the transaction is:
Search
R4R Team
R4Rin Top Tutorials are Core Java,Hibernate ,Spring,Sturts.The content on R4R.in website is done by expert team not only with the help of books but along with the strong professional knowledge in all context like coding,designing, marketing,etc!