AAFM Exam CTEP Topic 1 Question 47 Discussion

Actual exam question for AAFM's CTEP exam

Question #: 47
Topic #: 1

[All CTEP Questions]

Lokesh purchased a flat on 1-4-1996 for Rs. 10,00,000/-. He sells the same flat on 1-10-2006 for Rs. 25,00,000/-. As a CTEP calculate the Indexed Cost of Acquisition on which capital gain would be calculated. (The CII of year 1995-96 is 281, for year 1996-97 is 305, for year 2005-06 is 497 and for year 2006-07 is 519).

ARs.17,01,639

BRs.18,46,975

CRs.17,68,683

DRs.16,29,508

Show Suggested Answer

Suggested Answer: D

by Eugene at Aug 07, 2024, 06:14 AM

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Pamella

1 days ago

Okay, let's break this down step-by-step. I've got my calculator and a strong cup of coffee ready!

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Ardella

7 days ago

I believe the answer is Rs.17,68,683 because we need to adjust the purchase price based on the CII values for the respective years.

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Shawnta

10 days ago

I agree, let's use the CII values provided to find the correct amount.

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Jesse

11 days ago

I think we need to calculate the Indexed Cost of Acquisition first.

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Eden

13 days ago

Ah, now this is a tricky one! Gotta love those pesky cost indexation calculations.

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