Income Tax Law & Practice-II - Capital Gains

Capital gain is classified into........ types.

• a) Two

• b) Three

• c) Four

• d) Five

State which of the following as not a capital asset.

• a) Goodwill

• b) Land and building

• c) Plant and machinery

• d) Stock

Income from sale of rural agricultural land is

• a) Taxable capital gain

• b) Exempted capital gain

• c) Taxable income

• d) Long term capital gain

If Unlisted securities are sold after 12 months, the capital gain arising from such sale is a

• a) STCG

• b) LTCG

• c) Income from other sources

• d) All of these

Long term capital gain on sale of unlisted shares are

• a) Taxable

• b) Exempted

• c) Partially exempted

• d) Partially taxable