SOLUTION # 1.

SOLUTION # 5
SHARES (NON LISTED CO) NTR SALE PROCEEDS (1,000 SHARES @
SALE PROCEEDS (10,000 SHARES @ RS.20/SHARE) 200,000 COST PRICE (1,000 SHARES @ $ 25
COST PRICE: CAPITAL GAIN
BUYING COST (10,000 @ RS.15/SHARE) 150,000 TAXABILITY: H.P IS UPTO 1 YEAR TH
TRANSFER FEES 1,000
COMMISSION 1,500 SOLUTION # 6
TOTAL COST -152,500 SALE PROCEEDS
CAPITAL GAIN 47,500 LESS: COST PRICE
TAXABILITY: H.P IS UPTO 1 YEAR THEN 100% GAIN WILL BE TAXABLE. BUYING COST
INCIDENTAL EXP (700,000 +900,
SOLUTION # 2 TOTAL COST PRICE
CAPITAL GAIN
TAXABILITY: H.P IS > 1 YEAR THEN 75% GAIN WILL BE TAXABLE. TAXABILITY
H.P IS > 3 YEARS BUT UPTO 4 YEAR
SOLUTION # 3 SHARES (UNLISTED CO.) NTR i.e. Rs. 21,400,000 * 0.25 = Rs. 5,35
PURCHASING COST (50,000 SHARES@ RS.150) 7,500,000 TAX LIABILITY
BONUS SHARES RECEIVED (50,000 * 1/5) 10,000 SHARES Rs.5,350,000 * 5% =
TOTAL ACQUIRED SHARES (50,000 + 10,000) 60,000 SHARES LESS: ADVANCE TAX
REVISED COST PRICE (RS.7,500,000 / 60,000)RS.125/SHARE NET TAX REFUND

SALE PROCEEDS (10,000 *0.8 = 8,000SHARES @RS.135/SHARE) 1,080,000 SOLUTION # 7

COST PRICE (8,000 SHARES @ RS.125/ SHARE) -1000000 PAINTING (MOVABLE CAPITAL ASS
CAPITAL GAIN 80,000 SALE PROCEEDS
TAXABILITY: H.P IS > 1 YEAR THEN 75% GAIN WILL BE TAXABLE. COST PRICE
CAPITAL GAIN
SOLUTION # 4 TAXABILITY: H.P IS > 1 YEAR THEN
SALE PROCEEDS 1,000,000
COST PRICE 500,000 SOLUTION # 8
CAPITAL GAIN 500,000 PERSONAL VEHICLES DO NOT LIE IN
TAXABILITY: H.P IS > 1 YEAR THEN 75% GAIN WILL BE TAXABLE.
AS MS SAIMA'S BROTHER IS THE NON RESIDENT, THEN MS SAIMA WILL BE TAXABLE. SOLUTION # 9
FAIR MARKET VALUE OF SCULPTUR
SCULPTURE # 1 Rs. 360,000 / 900,0
SCULPTURE # 2 Rs. 540,000 / 900,0

SALE PROCEEDS
COST PRICE
CAPITAL GAIN/LOSS
TAXABILITY: SCULPTURE # 1
TAXABILITY: SCULPTURE # 2
 SHARES (NTR)
CEEDS (1,000 SHARES @ $ 60 * RS 80/$) 4,800,000
CE (1,000 SHARES @ $ 25 * RS.60/$) -1,500,000
3,300,000
TY: H.P IS UPTO 1 YEAR THEN 100% GAIN WILL BE TAXABLE.

IMMOVABLE PROPERTY STR

RS.31,000,000

8,000,000
AL EXP (700,000 +900, 1,600,000
-9,600,000
21,400,000

YEARS BUT UPTO 4 YEARS, THEN 25% OF GAIN WILL BE TAXABLE

,400,000 * 0.25 = Rs. 5,350,000

000 * 5% = RS. 267,500

(Rs.31 million * 0.01) -310,000
-42,500

(MOVABLE CAPITAL ASSET--NTR)

2,000,000
-1800000
200,000
TY: H.P IS > 1 YEAR THEN 75% GAIN WILL BE TAXABLE.

L VEHICLES DO NOT LIE IN THE CAPITAL ASSETS. SO NO TAX WILL BE APPLIED.

KET VALUE OF SCULPTURES RS.360,000 + 540,000 = Rs.900,000

RE # 1 Rs. 360,000 / 900,000 * RS.940,000 = RS.376,000 (40%)
RE # 2 Rs. 540,000 / 900,000 * RS.940,000 = RS.564,000 (60%)
SCULPTURE # 1 SCULPTURE # 2
RS.376,000 RS.564,000
-410,000 -475,000
-34,000 89,000
TY: SCULPTURE # 1 C.L SHALL NOT BE RECOGNIZED
TY: SCULPTURE # 2 H.P IS > 1 YEAR THEN 75% GAIN WILL BE TAXABLE.