Qn. 1 / 8

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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%

Qn. 2 / 8

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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

Qn. 3 / 8

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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

Qn. 4 / 8

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

ITR 1

ITR 2

ITR 3

ITR 4

Qn. 5 / 8

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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

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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

Qn. 7 / 8

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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)

Qn. 8 / 8

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

0%

10%

15%

20%