What is the minimum holding period for an asset to qualify for Long-Term Capital Gains (LTCG) tax in India?

12 months 24 months 36 months 6 months

What is the LTCG tax rate in India for equities and mutual funds if the profit exceeds Rs. 1 lakh in a fiscal year?

10% 15% 20% 25%

Which of the following is NOT a factor in determining the LTCG tax rate?

Asset type Holding period Investor's age Profit amount

What is the indexed cost of acquisition used for in LTCG tax calculation?

Determining the original purchase price Adjusting the purchase price for inflation Calculating the selling price of the asset Determining the applicable tax rate

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 54 Section 54F Section 54EC Section 112A

Which of the following investments can help save on LTCG tax under Section 54EC?

Bonds issued by NHAI and RECL Equity-oriented mutual funds Gold Real estate

What is the purpose of a Capital Gain Account Scheme?

To avoid paying LTCG tax entirely To defer LTCG tax payment To invest in foreign assets To donate to charitable organizations

What is the maximum amount of capital gains exempted from LTCG tax per year in India?

Rs. 50,000 Rs. 1 lakh Rs. 2 lakh Rs. 5 lakh