NISM Certifications · NISM-Series-X-B: Investment Adviser (Level 2) · Capital Gains
Under the Income-tax Act as applicable to resident individuals, which of the following is a long-term capital asset when sold, based only on the holding period?
Listed equity shares held for 13 months are long-term because the threshold for listed shares is more than 12 months. Unlisted shares and land held for 20 months fall short of the 24-month threshold, and 11 months for listed shares is also short-term.
- AListed equity shares held for 11 months
- BUnlisted equity shares held for 20 months
- CImmovable land held for 20 months
- DListed equity shares held for 13 monthsCorrect
Explanation
Listed equity shares become long-term when held for more than 12 months, so 13 months qualifies. Unlisted shares and land need more than 24 months, so 20 months is short-term for both. Eleven months for listed shares is short-term.
Did you get it right without looking?
One question tells you little. A timed set on Capital Gains shows your real accuracy, how long you take and where you lose marks.
More Capital Gains questions
- Ms. Neha Kulkarni, a resident individual, sold listed equity shares (STT paid) held for 3 years for Rs 7,00,000. Cost was Rs 5,00,000. In th…
- Mrs. Leela Nair inherited a flat from her father, who had bought it 10 years ago. She sold it one year after inheriting it. For computing th…
- Vikram, a resident individual, sold listed equity shares held for three years, with STT paid. The net sale consideration was Rs 60 lakh and …
- Meera Iyer, a resident individual, bought 500 listed equity shares of an Indian company on 10 June 2022 at Rs 400 per share (Securities Tran…
- Caselet: Ms. Iyer, a resident individual, sold listed equity shares after holding them for 18 months. Sale value was Rs 5,00,000 and cost of…
- Asha inherited listed equity shares from her father, who had bought them ten years ago. She sold them on the exchange three months after inh…