What is the primary factor that determines whether a capital asset is classified as short-term or long-term?

The type of asset The purchase price of the asset The holding period of the asset The purpose for which the asset is used

What is the tax rate applied to long-term capital gains from the sale of property held for more than 24 months after March 31st, 2017?

10% 15% 20% 25%

Which of the following is NOT a factor considered when calculating short-term capital gains?

Consideration received from the sale Cost of acquiring the property Expenses related to the sale Indexed cost of improvements

Under Section 54, what is the maximum number of housing properties an individual can reinvest capital gains in after Budget 2019 to avail of a tax exemption?

One Two Three Four

What is the maximum amount an individual can invest in specific bonds provided by NHAI or REC under Section 54EC to avail of a tax exemption?

Rs. 10 Lakh Rs. 25 Lakh Rs. 50 Lakh Rs. 1 Crore

What is the key requirement for an individual to claim a tax exemption under Section 54B?

Reinvesting capital gains from the sale of any asset into a new agricultural land Reinvesting capital gains from the sale of agricultural land into a new agricultural land Reinvesting capital gains from the sale of a housing property into a new agricultural land Reinvesting capital gains from the sale of shares into a new agricultural land