XX Taxation in Securities Markets - 2
XX Taxation in Securities Markets - 2
Explore Additional Mock Tests Here
Q 1. What type of trust is registered under SEBI (Real Estate Investment Trusts) Regulations 2014?
Hedge fund
Mutual fund
REIT
Pension trust
Q 2. How is the period of holding determined for shares of an amalgamated company in case of demerger?
Date of holding shares in the demerged company to date of allotment in the resulting company
Date of allotment of the resulting company to date of sale
Date of demerger to date of sale
None of the above
Q 3. Under which scheme are the services of lending securities subject to a reverse charge?
Securities Lending Scheme, 2000
Securities Lending Scheme, 2010
Securities Lending Scheme, 1997
None of the above
Q 4. What legislative act regulates trading in derivatives, including commodity derivatives, in India?
Securities and Exchange Board of India Act, 1992
Securities Contract (Regulation) Act, 1956
Forward Contracts (Regulation) Act, 1952
None of the above
Q 5. In the case of taxation of bonus shares, which provision is applied to determine the cost of acquisition of long-term capital assets?
Section 80C
Section 10
Section 112A
Section 80D
Q 6. Question: In which scenario is the condition of payment of STT relaxed for transactions involving specified securities?
- (Transactions undertaken by foreign residents
- (Transactions reported to the Financial Action Task Force (FATF)
- (Transactions conducted through electronic trading platforms
- (Transactions involving government securities only
Q 7. To what extent do the provisions of Section 115AD apply to Specified Funds?
For all income generated by the fund
Income attributable to units held by non-resident individuals only
Income attributable to units held by non-residents, excluding those who are PEs in India
Income attributable to units held by corporations
Q 8. Who can join the National Pension System (NPS) as per eligibility criteria?
Only Indian citizens residing in India
Only Indian citizens residing outside of India
Only Non-Resident Indians (NRIs)
Indian citizens, Non-Resident Indians (NRIs), and Person of Indian Origin (PIO) cardholders
Q 9. What is the maximum maturity period for Commercial Papers (CPs) in India?
3 months
6 months
9 months
24 months
Q 10. How is the indexed cost of acquisition calculated for determining long-term capital gains on gold ETFs?
It is calculated by subtracting the purchase price from the selling price
It is calculated by multiplying the purchase price by the Consumer Price Index (CPI)
It is calculated by multiplying the purchase price by the Capital Investment Index (CII)
It is calculated by multiplying the purchase price by the Cost of Inflation Index (CII) ratio
Q 11. How is "Asset Reconstruction" defined under the SARFAESI Act?
Acquisition of assets by ARCs from banks and financial institutions
Liquidation of assets by ARCs
Issuance of bonds by ARCs
Management of assets by ARCs
Q 12. When is the fair market value of the capital asset on the date of receipt considered as the full value of consideration?
When a partner or member receives a capital asset in connection with the reconstitution of a Firm or other AOP or BOI
When securities are transferred as a gift or under an irrevocable trust
When a non-resident redeems rupee-denominated bonds
None of the above
Q 13. What is the main aim of Tax Alpha?
Reduce tax liabilities
Increase tax complexity
Minimize investment returns
None of the above
Q 14. Under what circumstances does Section 60 of the Income-tax Act apply?
When a person transfers assets without transferring income
When a person transfers income without transferring assets
When a person transfers both assets and income simultaneously
When a person receives gifts from relatives
Q 15. What is the distinguishing feature of Exchange-Traded Funds (ETFs)?
They are actively managed by fund managers
They invest exclusively in government securities
They can only be traded on international exchanges
They are suitable for aggressive traders