What is the tax rate for Long Term Capital Gains (LTCG) exceeding Rs 1 lakh on listed stocks in India from FY 2018/19?

0% 10% 15% 20%

Which of the following is categorized as speculative business income as per the Income Tax Act, 1961?

Trading Futures & Options Trading equity intraday Long term capital gains from equity investments Short term capital gains from equity investments

What is the advantage of declaring trading as a business income?

Higher tax rates Simpler ITR forms Ability to claim expenses related to trading No need for audit

Which ITR form is required for individuals declaring business income from trading?

ITR 1 ITR 2 ITR 3 ITR 4

What is the time limit for carrying forward and setting off non-speculative F&O trading losses?

4 years 8 years 10 years Cannot be carried forward

According to CBDT, who is considered a trader?

Anyone who invests with the intention of earning through dividends Anyone who buys and sells with the intention of profiting from the price rise Anyone who holds stocks for more than one year Anyone who trades only in Futures & Options

Which of the following is NOT a key takeaway from the provided text?

Trading F&O is considered non-speculative business Trading intraday equity is considered speculative business Equity holdings for more than 1 year are considered Long term capital gain (LTCG) Equity holdings for less than 1 day are considered Short term capital gain (STCG)

What is the tax rate for Short Term Capital Gains (STCG) on listed stocks in India?

0% 10% 15% 20%