Income Tax Law & Practice-II

Capital gain is classified into how many types?

• A. Two

• B. Three

• C. Four

• D. Five

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. 1971-72

• B. 1981-82

• C. 1991-92

• D. 2001-02

To find out Long term capital gain:

• A. Cost of acquisition

• B. Total cost

• C. Index cost

• D. Cost of sales

Cost of Inflation Index for AY 2023-2024

• A. 100

• B. 200

• C. 289

• D. 331

Cost inflation index number for the financial year 2021-22 is:

• A. 1081

• B. 1024

• C. 272

• D. 317

What is the date on which" Fair Market Value" of capital assets acquired is determined?

• A. 1.4.71

• B. 1.4.81

• C. 1.4.91

• D. 1.4.2001