Capital asset excludes all except – McqOptions

MCQOPTIONS

1.	Capital asset excludes all except
A.	stock-in-trade
B.	personal effects
C.	jewellery
D.	agricultural land in india.
Answer» D. agricultural land in india.

Discussion

No Comment Found

Related MCQs

As per Income Tax Act, 1961, income tax is charged on the income ofat a rates which are prescribed by the Finance Act of relevant assessmentyear.
The payment is authorized by, and is in accordance with the term of partnership deed according to sec .
In the absence of the individual assesses, return of income can be signed by
The trust should be one established in accordance with law and its objects should fall within the definition of the term .
When the portion of the house is self-occupied for the full year and portionis self-occupied for the whole year, the annual value of the house shall bedetermined by .
The net annual value of house let out is ` 1,00,000 and actual amount spentby the assessee on repairs and insurance premium is ` 20,000. The amountof deduction allowed under Section 24(a) shall be .
Rent from House Property let out by an assessee to his employees whensuch letting is incidental to his main business will be chargeable to taxunder head .
Which of the following is not a requisite for charging income-tax on capital gains
Expenditure on free meals to employee in excess of per meal will be treated as perquisite of employee.
In terms of section 2(42A), listed securities are treated as long-term capital asset, if they are held for a period of more than