Capital Gains – Test 2

Exemption u/s 54EE in respect of investment in units of specified funds is available to ______

As per section 54EE,long-term capital gains arising from transfer of capital asset on or after 1.04.2016 shall be exempt, if such  capital gains are invested in units of specified funds within ____ after the date of such transfer

Mr. Piyush has available exemption of Rs.3,00,000 u/s 54EE by investing the sum in units of specified fund. He took a loan against the securities of such bonds. Whether  exemption u/s 54EE will still be available to Mr.Piyush ?

Which of the following conditions need to be satisfied for claiming exemption u/s 54G in respect of capital gains arising on transfer of assets, in case of shifting of industrial under takings from urban areas ?

Which of the following conditions need to be satisfied for claiming exemption u/s 54GA in respect of capital gains arising on transfer of assets in case of shifting of industrial undertakings from urban area to any Special Economic Zone (SEZ) ?

Exemption u/s 54GB in respect of long-term capital gains arising on transfer of residential property, if invested in new manufacturing SME company is available to

Robin has acquired shares in 1978 for Rs.3,70,000, the FMV of which on 01.04.2001 was Rs.2,50,000. He transferred the above shares in PY 2018-19 for Rs.10,00,000. What would be indexed cost of acquisition of such shares, if CII for 2001-02 and 2018-19 is 100 and 280 respectively ?

ankush has transferred self-generated goodwill of a business in PY 2018-19 for Rs.5,00,000, the FMV of which on 01.04.2001 was Rs.3,60,000. What would be the capital gain, given the CII for 2001-02 and 2018-19 is 100 and 280 respectively ?

Mr.Alex, a non-resident assessee, purchased certain GDR as referred u/s 115AC(1) for USD 4,000 in FY 2017-18. Later in FY 2018-19, he sold such GDR for USD 5,000 through stock exchange located in International Financial Institutions Centre. In such a case, the amount of capital gain would be

Mr.CJ is engaged in real estate business. On 30.06.2018, he transferred one of the business building for residential use, when FMV of building was Rs. 20 lakhs, which was considered for tax purpose.What would be the cost acquisition of such building for purpose of capital gain when it is sold by Mr. CJ ?

Mr.JJ is engaged in real estate business, On 30.06.2018, he transferred one of the business building for residential use, when FMV of building was Rs. 20 lakhs, which was considered for tax purpose. The period of holding of the transferred asset in case of subsequent transfer, shall be reckoned from the __________

R owns an immovable property, valued at Rs. 40 lakhs. In FY 2018-19, he transferred such property for Rs. 60 lakhs, when the stamp duty value of such property was Rs.63 lakhs. For the purpose of computation of capital gains, sale consideration would be

S Ltd, owns an immovable property valued at Rs. 40 lakhs. In FY 2018-19, it transferred such property for Rs.60 lakhs, when the stamp duty value of such property was Rs.65 lakhs. For the purpose of computation of capital gains, sale consideration would be

Sumit purchases an immovable property for Rs. 40 lakhs when the stamp duty value of such property is Rs. 42 lakhs. Amount taxable as income from other sources in the hands of Mr.Sumit u/s 56(2)(x) would be

Amit purchased an immovable property for Rs.40 lakhs, when the stamp duty value of such property is Rs.45 lakhs. Amount taxed as income from other sources in the hands of Mr.Amit u/s 56(2)(x)would be

Ankush purchased an immovable property for Rs. 40 lakhs when the stamp duty value of such property is Rs.40-50 lakhs. Amount taxed as income from other sources in the hands of Mr.Ankush u/s 56(2)(x) would be

Section 112A of Income tax Act, covers chargeability of tax on transfer of specified____ capital assets

Section 112A of Income tax Act, covers chargeability of tax on transfer of long-term capital assets being

Mr.Robin a resident, transferred 1,000 equity shares of Unique Ltd. for Rs.4,00,000 through stock exchange. He had purchased such shares 5 years ago for Rs.2,00,000, when STT was not paid on acquisition. In such a case, amount of tax (excluding HEC) on such capital gains would be Rs._______ (assume FMV on January 31, 2018 was Rs.2,00,000 and Robin does not have any other income).

Mr.Sohan a resident, transferred 1,000 equity shares of Anti Ltd. for Rs.4,00,000 through stock exchange on 30.06.2018. He had purchased such shares 5 years ago for Rs.2,00,000. STT had not been paid on acquisition and he has other income of Rs.2,50,000 also. In that case, amount of tax (excluding HEC) on such capital gains would be Rs.________ (assume FMV on January 31, 2018 was Rs.2,00,000)

Mr.Rohan a resident, transferred 1,000 equity shares of Unique Ltd. for Rs.4,00,000 through stock exchange on 30.06.2018. He had purchased such shares 5 years ago for Rs.2,00,000. STT had been paid on acquisition and he has other income of Rs.2,50,000 also. In that case, amount of tax (excluding HEC) on such capital gains would be  Rs.________ (assume FMV on January 31, 2018 was Rs.2,00,000).

Mr.Aman a resident, transferred 1,000 units of an equity-oriented fund for Rs.4,00,000 through stock exchange. He had purchased such units 5 years ago for Rs.2,00,000. STT had not been paid on acquisition and he has other income of Rs.2,50,000. In that case, amount of tax (excluding HEC) on such capital gains would be Rs._________

Mr.Ankush a resident, transferred 1,000 units of equity-oriented fund on 30.06.2018 for Rs.4,00,000 without paying STT. He had purchased such units on 30.062013 for Rs.2,00,000 and STT was not bee paid on acquisition of such units. He has other income of Rs.2,50,000. What shall be the amount of tax (excluding HEC) on such capital gains, if following information is given ?

CII for AY 2019-20         280

CII for AY 2014-15         220

Mr. Rohit, a resident, transferred 1,000 equity shares of Unique Ltd. for Rs.4,00,000 through stock exchange located at IFSC without paying STT on such transaction. He had purchased such shares 5 years ago for Rs.2,00,000 and STT was paid on acquisition of such shares. He has other income of Rs.2,50,000. In such other income of Rs.2,50,000. In such a case, amount of tax (excluding HEC) on such capital gains would be Rs.________

Mr.X sold 2,000 equity shares on 06.06.2018 @ Rs.300 per share. Cost of acquisition of such shares purchased on 12.04.2017 was Rs.140 per share. If the fair market value on recognised stock exchange stock exchange is Rs.240 as on 31.01.2018, what would be cost of acquisition of such shares for computation capital gains ?

Mr. Y sold 2,000 equity shares on 06.06.2018 @ Rs.300 per share. Cost of these shares, which were purchased on 12.04.2017 was Rs.140 per share. If the fair market value on recognised stock exchange is Rs.280 as on 31.01.2018, what would be cost of acquisition of such shares for computation of capital gains ?

Mr.Z sold 2,000 equity shares on 06.06.2018 @ Rs.300 per share. Cost of these shares, which were purchased on 12.04.2017 is Rs.140 per share. If the fair market value on recognised stock exchange of Rs.100 as on 31.012018, what would be cost acquisition of such shares for computation of capital gains ?

As per the contention of Assessing Officer gold bars, sovereigns etc. used for Puja are capital asset & hence, attracts capital gains. Is the contention of Assessing Officer valid?

STCG is a gain arising from the transfer of a land & building which is held by the assessee for not more than ____ months from the date of its acquisition.

Mr. P purchased a car for his personal use for Rs. 5,00,000 in April, 2018 & sold the same for Rs. 5,50,000 in July, 2018. The taxable capital gains would be.