A bag contains ‘x’ red, ‘x+5’ blue and ‘x + 7’ grey balls. If two balls are randomly drawn from the bag and the probability that both the balls are of same colour is 148/435, then find the total number of balls in the bag.

A. 36 balls B. 64 balls C. 58 balls D. 30 balls E. 29 ballsCO

The charging section of the income under the head capital gains is :

A. Section 15 B. Section 17 C. Section 10 D. Section 45 (2)

What are the conditions to be fulfilled for charging of income under the head capital gains:

A. There must be a capital asset.

B. There must be a transfer of such capital asset.

C. The transfer of such capital asset has been affected during the previous year.

D. All of the above.

Which of the following is not a requisite for charging income-tax on capital gains –

A. The transfer must have been effected in the relevant assessment year

B. There must be a gain arising on transfer of capital asset

C. Capital gains should not be exempt u/s 54

D. Capital gains should not be exempt u/s 54EC

The following shall not be regarded as capital asset:

A. Urban Land

B. Securities held by a Foreign Institutional Investor as per SEBI Act, 1992

C. Archaeological Collections

D. Motor Car

The following shall be regarded as capital asset:

A. Gold Jewelry held by jeweler as SIT trade.

B. Securities held by FII as per SEBI Act, 1992, held as stock in trade.

C. Motor car held by motor car manufacturer as SIT

D. None of above

The following shall not be regarded as capital asset:

A. Jewellery

B. Rural Agricultural land

C. Archaeological Collections

D. Personal residential house

The following shall be regarded as capital asset:

A. Jewellery

B. Sculptures

C. Archaeological Collections

D. All of the above

Rural area means any area which is outside-------------Kilometers from the local limits of the jurisdiction of a municipality or a cantonment board, if the population of municipality or cantonment board is more than 10,00,000.

A. 2 B. 4 C. 6 D. 8

Rural area means any area which is outside--------------------Kilometers from the local limits of the jurisdiction of a municipality or a cantonment board, if the population of municipality or cantonment board is more than .1,00,000 but not exceeding 10,00,000.

A. 2 B. 4 C. 6 D. 8

. Rural area means any area which is outside----------------------Kilometers from the local limits of the jurisdiction of a municipality or a cantonment board, if the population of municipality or cantonment board is more than 10,000 but not exceeding 1,00,000

A. 2 B. 4 C. 6 D. 8