CAPITAL GAIN

Ms. Ananya purchases 1,000 equity shares in XYZ Pvt. Ltd., an unlisted company, at a cost of 30 per share (brokerage 1%) in January 1996. She receives 100 bonus shares in August 2000 and an additional 1,100 bonus shares in February 2006. The fair market value of the shares on April 1, 2001, is 80. On January 1, 2024, she sells all her shares at Rs.200 per share (brokerage 2%). Compute the capital gains taxable in the hands of Ms. Ananya for the Assessment Year 2024-25. A Ms. Ananya will incur a long-term capital loss of Rs.1,24,960. B Ms. Ananya will have a long-term capital gain of Rs.1,24,960. C Ms. Ananya will have a long-term capital loss of Rs.8,240. D Ms. Ananya will not have any capital gains or losses as the shares were sold at the same price as the fair market value on April 1, 2001