Taxation in Securities Markets Cert. Free Demo Test 5

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1 / 10

1. The trading in derivatives including commodity derivatives is regulated by ________.

a. SCRA, 1956

b. LLP Act, 2002

c. Companies Act, 2013

d. PMLA, 2002

2 / 10

2. In the case of FPIs, the resultant gains from derivatives shall always be _________.

a. Short-term capital gain

b. Speculative business income

c. Long-term capital gain

d. Long-term business income

3 / 10

3. The unlisted shares of a company are treated as short-term capital assets if they are held for not more than _______.

a. 12 months

b. 24 months

c. 36 months

d. 48 months

4 / 10

4. The losses can be carried forward for ______ only in case of non-speculative business losses.

a. 2 years

b. 4 years

c. 6 years

d. 8 years

5 / 10

5. Which one of these is true concerning Stock Split or Stock Divide?

a. Process of dividing outstanding shares into smaller shares

b. Stock Split or Stock Divide increases number of shares in the company

c. Market Cap remains the same

d. All of these

6 / 10

6. The share or interest shall be deemed to derive its value substantially from the assets located in India if the value of such assets exceeds the amount of ______.

a. Rs. 10 crore

b. Rs. 15 crore

c. Rs. 20 crore

d. Rs. 25 crore

7 / 10

7. The taxability of long-term capital gains arising from the transfer of Masala bonds is the same as _______.

a. Deep discount bonds

b. Zero coupon bonds

c. Coupon Bonds

d. Both 1 and 2

8 / 10

8. An income statement shall be required to be furnished to the income tax department by the securitization trust in _______.

a. Form No. 44A

b. Form No. 64E

c. Form No. 34C

d. Form No. 54F

9 / 10

9. The short-term capital gain arising from the transfer of an alternate investment fund is chargeable to tax at the rate of ________.

a. 10%

b. 20%

c. 30%

d. 40%

10 / 10

10. Which is true in the case of liquidation of the company?

a. All the liabilities are paid off first

b. Remaining assets are distributed among the equity shareholders

c. Such distribution of assets not treated as transfer for capital gains

d. All of these

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Taxation in Securities Markets Cert. Free Demo Test 5

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