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.
Statutory limit for exemption of compensation received at the time of voluntary retirement (VRS) is………………………..
A. rs. 5,00,000.
B. rs. 8,00,000.
C. rs. 10,00,000.
D. rs. 15,00,000.
✅ The correct answer is option A.
Deduction from gross Total income is allowed under Sec. 80C up to lower of the Qualifying amount or a maximum of.
A. rs. 50,000.
B. rs. 80,000.
C. rs. 1,00,000.
D. rs. 2,00,000.
✅ The correct answer is option C.
Profits earned from an illegal business are……………………..
A. taxable.
B. tax free.
C. ignored by tax authorities.
D. treated as other income.
✅ The correct answer is option A.