Mr Rahim purchased a property in Mumbai in the year 2000 for Rs. 15 lacs He sold the property on Dec 13th 2019, for Rs 30 lacs. The fair market value of the property as on 1.4.2001 was 22 lacs.   Define and Calculate the indexed cost of acquisition (5 Marks) – 400 Words   Define, Calculate and indicate the amount and type of gain or loss, if any   Given the relevant assessment year is 2020-2021. Cost inflation index for the year 2001-02 is 100 Cost inflation index for the year 2018-19 is 280 Cost inflation index for the year 2019-20 is 289 Cost inflation index for the year 2020-21 is 301

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