Income Tax Law & Practice-II
Authored by A Jegadishkumar
Arts
University
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5 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Capital gain on compulsory acquisition of urban agricultural land is
A. Taxable capital gain
B. Exempted capital gain
C. Ignored
D. None of these
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Exemption u/s 54 is allowed
A. On sale of shares
B. On sale of land
C. On sale of residential house
D. Sale of personal effect
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Exemption u/s 54 is allowed for investment in
A. Shares
B. Land
C. Another residential house
D. Jewellery
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Long term capital gain on sale of listed shares are
A. Taxable
B. Exempted
C. Partly taxable
D. None of these
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Long term capital gain on sale of unlisted shares are
A. Exempted
B. Taxable
C. Partly exempted
D. None of these
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