Income Tax MCQ QUIZ Set – 11 (Income from Capital Gains)

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MCQ on Income from Capital Gains

Capital Gains Tax MCQs

1. Sec 45 related to




Answer is B)
capitals gains

 

 

2. Where total block of depreciable assets is transferred after 36 months, there will



Answer is A)
Short term capital gains or loss

 

 

3. capital assets includes



Answer is C)
shares

 

 

4. indexation will be allowed in case of




Answer is A)
LTCG

 

  5. How many types of capital gains are there




Answer is B)
2

 

 

6. Indexation will be done



Answer is A)
Shares

 

 

7. Cost inflation index before 31st march, 2001…..



Answer is C)
100

 

 

8. Exemption is not allowed u/s….?



Answer is B)
54E

 

 

9. Short term capital gains is taxed at……Price



Answer is A)
Normal tax rates

 

 

10. Exemption under section 54 is available to which persons ?



Answer is B)
Individual and HUF

 

 

11. For deduction u/s 54EC , the individual should invest the whole or part of the capital gains in the specified asserts ….



Answer is A)
Within 6 months from the date of long term capital assets transfer

 

 

12. Long term capital gain is taxed …..?



Answer is C)
20%

 

 

13. If the goodwill of profession which is self-generated is transferred , then there will be



Answer is C)
No capital gains

 

 

14. Deduction from capital gains under section 54B is for capital gains arising from transfer of……



Answer is A)
Agricultural land

 

 

15. The rate of tax that is imposed on STCG arising from transfer of equity shares of a company , concern, units of an equity oriented fund is….



Answer is B)
15%

 

16. What is The charging section of the income under the head capital gains is…..?




Answer is A)
sec 45(2)

 

Multiple choice Questions on Capital Gains

  

Also Read:

 Income Tax MCQ / Multiple Choice Questions on Taxation with Answers :


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