Mr. Vishal and Mr. Guha sold their residential house property in Pune for Rs 3 crore and Rs
4 crore, respectively, in January, 2022. The house property was purchased by them 25 months
back. The indexed cost of acquisition is Rs 1 crore and Rs 1.75 crore, respectively. Mr. Vishal
purchased two residential flats, one in Delhi and one in Agra for Rs 70 lakhs and Rs 80 lakhs,
respectively, in April, 2022. On the same date, Mr. Guha also purchased two residential flats,
one in Mumbai and the other in Pune, for Rs 80 lakhs and Rs 75 lakhs, respectively. Both of
them invested Rs 30 lakhs in bonds of NHAI in March, 2022 and Rs 30 lakhs in bonds of
RECL in April, 2022. What is the income taxable under the head “Capital Gains” for
A.Y.2022-23 in the hands of Mr. Vishal and Mr. Guha?
a. Rs 70 lakhs and Rs 95 lakhs, respectively
b. Rs 60 lakhs and Rs 85 lakhs, respectively
c. Nil and Rs 95 lakhs, respectively
d. Nil and Rs 20 lakhs, respectively