Question 1
Agricultural land situated in any area within 6 Kms distanced aerially from local limits of municipality or cantonment board shall not be considered as capital asset where the population of municipality is ______________
a. 10,001 – 1,00,000 ;
b. 1,00,001 – 10,00,000 ;
c. More than 10,00,000 ;
d. None of the above
Question 2
Miss Rani has acquired house property by way of gift from her uncle on April 10, 2017. Her uncle had purchased such property way back in 2010. She sold such property on August 10, 2018. Such property shall be considered as ___________
a. Short-term Capital assets ;
b. Long-term Capital assets
Question 3
Where right to acquire shares has been renounced, the person who has acquired such right would reckon the period of holding of right shares from the ___________
a. Date of offer of such right shares ;
b. Date of renouncement of such right ;
c. Date of allotment of such right shares ;
d. None of the above
Question 4
UV Inc. acquire Global Depository Receipt (GDR) of D India on April 1, 2015. UV Inc. requested for redemption of GDR on April 12, 2018, in lieu of which it received shares on April 20, 2017. It sold such shares on July 1, 2018. What would be the period of holding of shares?
a. April 1, 2015 to July 1, 2018 ;
b. April 20, 2015 to July 1, 2018 ;
c. April 12, 2018 to July 1, 2018 ;
d. None of the above
Question 5
Any transfer of capital asset by a 100% subsidiary company to its holding company shall not be regarded as transfer when ____________
a. Holding company is an Indian company ;
b. Subsidiary company is an Indian company ;
c. Either A or B ;
d. None of the above