Under which section of the Income Tax Act of India can an individual claim exemption from LTCG tax by investing in a new residential property after selling an existing one?

Section 54F

Section 54EC

Section 54

Section 112A

Which section of the Income Tax Act of India deals with exemptions on capital gains tax?

Section 80G

Section 80C

Section 80E

Section 80D

What is the primary purpose of the Jeevan Pramaan Patra?

To encourage financial independence after retirement

To facilitate investments in government-sponsored pension schemes

To streamline the process of opening a retirement account

To provide proof of existence for pensioners to receive their pension

How does the CII help reduce tax liabilities for assessees on long-term capital gains (LTCG)?

It allows for the adjustment of the asset's purchase price based on inflation, potentially lowering the taxable gain

It provides a flat tax deduction on all LTCG

It exempts LTCG from any taxation

It increases the tax rate on short-term capital gains, making LTCG more favorable

What is one of the key benefits of the Jeevan Pramaan Certificate for pensioners?

It provides tax benefits on pension income

It eliminates the need for physical presence at pension disbursement agencies

It allows pensioners to withdraw their entire pension amount at once

It guarantees a higher pension amount

What tax advantage does investing in an ELSS Fund offer?

"Tax-free dividends"

"Tax refund on investment amount"

"Reduction in taxable income up to a certain limit"

"Exemption from capital gains tax"