Ranjan has sold 2000, 14% debentures of ₹ 100 each to his wife for ₹ 90,000. The market value of debentures on the date of transfer was ₹ 1,80,000. In this case, interest income to be included in the total income of R shall be:
A. ₹ 28,000
B. ₹ 14,000
C. ₹ 25,200
D. ₹ 12,600
Answer:B
Ranjan has sold 2000, 14% debentures of ₹ 100 each to his wife for ₹ 90,000. The market value of debentures on the date of transfer was ₹ 1,80,000. In this case, interest income to be included in the total income of R shall be:
A. ₹ 28,000 B. ₹ 14,000 C. ₹ 25,200 D. ₹ 12,600