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

CS Executive · Tax Laws and Practice · PYQS · June 2015
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 under section 54
(D) Capital gains should not be exempt under section 54EC.

Answer & Explanation:

Correct Answer: Option (A)

Official answer key: (A).

Topics: Income Tax

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