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
Adv.
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
A. Jewellery
B. Rural Agricultural land
D. Personal residential house
B. Sculptures
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.
. 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
Capital asset excludes all except
A. Stock-in-trade
B. Personal effects
C. Jewellery
D. Agricultural land in India
Transfer of which of the following assets will not be considered as capital gain -
A. Jewellery B. Gold deposit bonds C. Paintings D. Sculpture
Which of the following are included in the jewellery -
A. Ornaments made of gold, silver and platinum. B. Precious metals whether or not worked or sewn into any wearing apparel. C. Semi-precious stones. D. All of the above.
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