capital gains

Which of the following is not a capital Asset?

• Stock in Trade

• Agricultural land

• Gold Bonds

• All of the above

Which of the following is treated as personal effect?

• Personal Wearables

• Drawings

• Sculptures

• All of the above

The property being capital asset may or may not be connected with the _____________ of the taxpayer

• Income

• Business or Profession

• Both A & B

• None of the above

which section of the I.T.Act deals with capital gains

• sec. 65

• sec. 55

• sec 45

• none of the above

No deduction u/s 80C to 80U is allowed from _____________

 

• STCG

• LTCG

• Both LTCG & STCG

• None of the above

A ________ individual and HUF can adjust the exemption limit against long-term capital gains

• Non resident

• Resident

• Both A & B

• None of the above

In respect LTCG arising on transfer of any security which is listed in a recognised stock exchange in India, the taxpayer can pay tax @ ____ (plus surcharge and  cess as applicable) only if he does not avail the benefit of indexation.

• 10%

• 15%

• 20%

• 30%

STCG arising on sale of equity shares other than through a recognized stock exchange is ____.

• 10%

• 15%

• 20%

• 30%

Generally, long-term capital gain is charged to tax @ ________ (plus surcharge and cess as applicable).

• 10%

• 15%

• 20%

• 30%

In computing indexed cost of acquisition _____ is not required

• Cost of acquisition

• Cost inflation index of the year of acquisition of capital asset

• Cost inflation index of the year of improvement of capital asset

• Cost inflation index of the year of transfer of capital asset