WorksheetsCapital Gains Tax Quiz
Total questions: 15
Worksheet time: 8mins
Which of the following is NOT considered a capital asset under the Income Tax Act, 1961?
House property
Motor car
Shares
Jewellery
What is the minimum holding period for immovable property to qualify as a long-term capital asset (from AY 2025-26)?
12 months
24 months
36 months
6 months
Which rate applies to long-term capital gains from listed equity shares after Budget 2024?
30%
10%
20%
12.5%
Which deduction section is applicable for investment in bonds after sale of land/building?
Section 80C
Section 54
Section 54EC
Section 80D
Short-term capital gains on shares (where STT paid) are taxed at:
5%
10%
15%
20%
Indexation refers to:
Adjusting acquisition cost with inflation
Reducing capital gains tax by rebate
Deducting investment under ELSS
Claiming depreciation on assets
Exemption under Section 54 is available only when:
Gains arise from the sale of commercial property
Gains are reinvested in new residential property
Gains are donated to charity
Gains are used to buy shares
Bonds eligible for Section 54EC benefit include:
PPF
NHAI & REC bonds
FD
Nifty ETFs
Which of the following is NOT eligible for indexation benefit under LTCG after budget 2024?
House property
Gold
Listed equity shares
Land
Maximum exemption under Section 54EC in a financial year is:
Rs. 25 lakhs
Rs. 30 lakhs
Rs. 50 lakhs
Rs. 1 crore
Short-term capital gain is applicable when asset is held for:
Less than 12 months
Less than 24 months
Less than 36 months
More than 36 months
Which one is a correct statement about capital gains arising from gifts/inheritance?
Always taxable as short-term
Not taxable at all
Taxable when sold by the recipient
Taxable at 30% flat
To claim Section 54 exemption, new house must be purchased within:
2 years after sale
1 year before/2 years after sale
1 year before only
10 years after sale
If Section 54EC bonds are sold within 5 years, the exempted LTCG will be:
Taxable in year of sale
Not taxable
Taxable after 5 years
Taxable only if bought above Rs. 50 lakhs
Long-term capital gain on sale of listed shares is exempted upto?
₹1,00,000
₹1,50,000
₹1,25,000
2,00,000
