Taxation of Capital Gains: Computation and Assessment
This quiz assesses your understanding of the computation and assessment of capital gains tax in India.
Questions
What is the full form of STCG?
- Short Term Capital Gains
- Securities Transaction Tax
- Special Tax Collection Group
- Stamp Transaction Tax
What is the full form of LTCG?
- Long Term Capital Gains
- Local Tax Collection Group
- Long Term Capital Group
- Long Term Capital Tax
What is the rate of STCG tax for equity shares and equity-oriented mutual funds?
- 15%
- 10%
- 20%
- 30%
What is the rate of LTCG tax for equity shares and equity-oriented mutual funds?
- 10%
- 15%
- 20%
- 30%
What is the rate of STCG tax for debt-oriented mutual funds?
- 15%
- 10%
- 20%
- 30%
What is the rate of LTCG tax for debt-oriented mutual funds?
- 10%
- 15%
- 20%
- 30%
What is the holding period for STCG?
- Less than 12 months
- Less than 24 months
- Less than 36 months
- Less than 48 months
What is the holding period for LTCG?
- More than 12 months
- More than 24 months
- More than 36 months
- More than 48 months
Which of the following is not a method of computing capital gains?
- Indexed cost of acquisition
- Fair market value
- Actual cost of acquisition
- Net asset value
What is the base year for indexation of cost of acquisition?
- 1981-82
- 1990-91
- 2001-02
- 2011-12
What is the indexation factor for the year 2022-23?
- 346
- 356
- 366
- 376
Which of the following is not a capital asset?
- Land
- Building
- Jewellery
- Furniture
Which of the following is a capital asset?
- Shares
- Bonds
- Debentures
- All of the above
What is the due date for filing capital gains tax return?
- July 31
- August 31
- September 30
- October 31
What is the penalty for late filing of capital gains tax return?
- 1% per month
- 2% per month
- 3% per month
- 4% per month