|
An investor purchased 2,000 shares of a listed company at Rs. 125 per share on 28.08.2015. The Company declared a dividend of Rs. 8 per share, the record date was 26.11.2015. He sold 900 shares on 12.04.2016 at a price of Rs. 115 per share and the balance on 27.06.2016 at a price of Rs. 135 per share.
1. Whether he had gained profit or suffered loss in the sale on 12.04.2016?
a. Gained profit
b. Suffered loss
c. No Profit No Loss
d. Can't determine
2. How much is the dividend received?
a. Rs. 7,200
b. Rs. 8,800
c. Rs. 12,800
d. Rs. 16,000
3. How much is the profit or loss on sale on 12.04.2016?
a. Loss of Rs. 3,600
b. Loss of Rs. 9,000
c. Profit of Rs. 3,600
d. Profit of Rs. 9,000
4. Whether he had gained profit or suffered loss in the sale on 27.06.2016?
a. Gained profit
b. Suffered loss
c. No Profit No Loss
d. Can't determine
5. How much is the profit or loss on sale on 27.06.2016?
a. Loss of Rs. 11,000
b. Loss of Rs. 19,800
c. Profit of Rs. 11,000
d. Profit of Rs. 19,800
6. What is the Taxable short term capital gains for AY 2017-18?
a. Rs. 2,000
b. Rs. 4,000
c. Rs. 9,000
d. Rs. 11,000
Solution :
1 - b
Price at which bought = Rs. 125
Sales consideration per share = Rs. 115
So, (115-125 = -10) Loss
2 - d
Declared dividend = Rs. 8 per share
Dividend received on 2000 shares = Rs. 16,000 (2000*8)
3 - b
Price at which bought = Rs. 125
Sales consideration per share = Rs. 115
So, (115-125 = -10) Loss
Number of shares sold = 900
Loss on sale: Short term = Rs. 9,000 {900*(115-125)}
4 - a
Price at which bought = Rs. 125
Sales consideration per share = Rs. 135
So, (135-125 = 10) Profit
5 - c
Price at which bought = Rs. 125
Sales consideration per share = Rs. 135
Gain on sale : Short term = Rs. 11,000 {1100*(135-125)}
6 - a
Loss on sale on 12.04.2016 = Rs. 9,000
Gain on sale on 27.06.2016 = Rs. 11,000
Taxable short term capital gains = Rs. 2,000 (11000-9000)
…………………………………………………………………………………………………………………………………………… |
