Multiple choice

To widen the tax net under capital gains, capital asset is being redefined so as to include:

(a) sculptures/figurines (b) paintings (c) archaeological collections (d) literary books/scriptures

Which of the above do you not agree with?

  1. Only (a)

  2. Only (b)

  3. Only (c)

  4. Only (d)

Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Only art objects are being brought within the purview of the capital assets. Literary books do not fall in this category.