A. 30th june
B. 30th september
C. 30th november
D. 31st december
✅ The correct answer is option B.
Income from sale of rural Agricultural land is………………
A. taxable capital gain.
B. exempted capital gain.
C. taxable income.
D. none of these.
✅ The correct answer is option B.
What is the time limit for holding of a Financial Asset, to be called Short Term Capital Asset?
A. not more than 6 months.
B. not more than 12 months.
C. not more than 24 months.
D. not more than 36 months.
✅ The correct answer is option B.
To be a long term capital asset, a non financial asset should be held more than…………….
A. 12 months.
B. 24 months.
C. 36 months.
D. 60 months.
✅ The correct answer is option C.
Shares held for less than 12 months are………………….
A. short term capital asset.
B. long term capital asset.
C. exempted capital asset.
D. projected capital asset.
✅ The correct answer is option A.
House property held for less than 36 months is……………………
A. long term capital asset.
B. short term capital asset.
C. exempted capital asset.
D. projected capital asset.
✅ The correct answer is option B.
Indexation is applicable to…………………..
A. sale of short term capital assets.
B. sale of long term debentures.
C. sale of depreciable capital assets.
D. sale of long term capital assets which are not depreciable assets
✅ The correct answer is option D.
. Cost of long term debentures are…………………
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.