Capital gain on Income tax

Capital gain is classified into how many types?

• A. Two

• B. Three

• C. Four

• D. Five

Not a capital asset:

• A. Stock in trade

• B. Household furniture

• C. Car for personal use

• D. All of these

To be a long term capital asset, a non financial asset other than land and buildings should be held more than:

• A. 48 months

• B. 36 months

• C. 24 months

• D. 12 months

House property held for less than 24 months is

• A. Long term capital asset

• B. Medium term capital asset

• C. Short term capital asset

• D. Exempted capital asset

Short term capital gain on sale of listed shares are.

• A. Exempted

• B. Taxable

• C. Partly taxable

• D. None of these

Unlisted shares held for 27 months are

• A. Long term capital asset

• C. Short term capital asset

• C. Partly taxable asset

• D. Exempted capital asset