Capital Gain introduction

Capital gain arises on:

• Business Capital

• Transfer of capital assets

• Stock of Trade

• All of these

2 .Capital gain is classified into how many types?

• A. Two

• B. Three

• C. Four

• D. Five

"Transfer of capital assets" is defined under income tax act 1961

• A. 2(31)

• B. 2(26)

• C. 2(32)

• D. 2(47)

Which of the following is not a capital asset?

• A. Goodwill of a business

• B. Jewellery

• C. Stock in trade

• D. Agriculture land in Delhi

The income from the sale of household furniture is:

• A. Taxable income

• B. Exempted income

• C. Capital gain

• D. Revenue gain

Not a capital asset:

• A. Stock in trade

• B. Household furniture

• C. Car for personal use

• D. All of these