A. eligible for indexing.
B. not eligible for indexing.
C. none of these.
D. all the above.
✅ The correct answer is option B.
What is the date on which Fair Market Value of capital assets acquired is determined?
A. 1.4.2001.
B. 1.4.1971.
C. 1.4.1981.
D. 1.4.1971.
✅ The correct answer is option C.
FMV on 1.4.81 is applicable to assets…………………..
A. acquired prior to 1.4.81.
B. transferred prior to 1.4.81.
C. acquired after 1.4.81.
D. none of the above.
✅ The correct answer is option A.
Cost of improvement incurred prior to 1.4.81 is…………….
A. indexed separately.
B. indexed along with cost of acquisition.
C. ignored fully.
D. none of these.
✅ The correct answer is option C.
Cost inflation rules for the purpose of long term capital gain has been notified by central government every year starting from the financial year………………
A. 1991-92.
B. 1985-86.
C. 1981-82.
D. 1975-76.
✅ The correct answer is option C.
Short term capital gain on sale of unlisted shares are……………..
A. taxable.
B. exempted.
C. partially exempt
D.
✅ The correct answer is option A.
Long term capital gain on sale of unlisted shares are……………………
A. taxable.
B. exempted.
C. partially exempt
D.
✅ The correct answer is option A.
Exemption u/s 54 is allowed when a residential house is sold and the investment is made in ………………………..
A. another residential house.
B. land.
C. shares.
D. jewellery.
✅ The correct answer is option A.
Which one of the following is not an admissible expense
A. income tax
B. excise duty
C. bad debt
D. sales tax
✅ The correct answer is option A.
Tax on short-term gain on sale of listed shares is…………….
A. 20%.
B. 25%.
C. 30%.
D. 15%.
✅ The correct answer is option D.