Capital gain u/s 54 f 14

Cost of acquisition in case of bonus shares allotted before 1.4.2001 will be

• (A) Face value on the date of allotment

• (B) Nil

• (C) Market value as on 1.4.2001

• (D) Current market value [Dec. 2014]

Which of the following is not a requisite for charging income tax on capital gains?

• (A) The transfer must have been effected in the relevant assessment year

• (B) There must be a gain arising on transfer of capital asset

• (C) Capital gains should not be exempt u/s 54

• (D) Capital gains should not be exempt u/s 54EC

In order to enjoy exemption u/s 54EC, the resultant long-term capital gains should be invested in specifiedbonds within a period from the date of transfer.

• (A) 36 Months

• (B) 4 Months

• (C) 6 Months

• (D) 12 Months

In terms of Section 2(42A), unlisted securities are treated as a long-term capital asset, if they are held for a period of more than

• (A) 24 Months

• (B) 36 Months

• (C) 12 Months

• (D) 48 Months

For claiming exemption u/s 54G, an assessee has to invest the resultant capital gains within a specified period. Which of the following is not eligible .for such investment?

• (A) Furniture

• (B) Land

• (C) Building

• (D) Plant or machinery

The base year for the purpose of calculation of the indexed cost of acquisition or the cost of improvement in respect of long term capital asset acquired prior to 1st April 2001 shall be taken as:

• (A) 1981-1982

• (B) 2001-2002

• (C) 1991-1992

• (D) 2011-2012