XX Taxation in Securities Markets - 28
XX Taxation in Securities Markets - 28
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Q 1. What benefits are not available for long-term capital gains taxable at the rate of 10% under Section 112A?
Benefits of indexation
Computation of foreign currency
Deduction under Sections 80C to 80U
None of the above
Q 2. Which equity product attracts a tax rate of 30% on long-term capital gains for residents and non-residents?
Listed equity shares where STT is paid
Unlisted shares
Listed preference shares
None of the above
Q 3. When is the fair market value of the asset on the date of receipt considered as the full value of consideration for a transfer?
When the transfer involves the conversion of capital assets into stock-in-trade
When securities are redeemed by a non-resident
When unquoted shares are transferred for less than their fair market value
None of the above
Q 4. What are the eligibility criteria for registration as a Foreign Portfolio Investor (FPI) according to Regulation 4 of the SEBI (FPI) Regulations, 2019?
Must be an Indian resident
Must be a non-resident Indian or an overseas citizen of India
Must be a resident of a country whose security market regulator is not a signatory to any international agreements
None of the above
Q 5. What type of adjustment is allowed for long-term capital losses against long-term capital gains within the same year?
Intra-Head Adjustment
Interhead Adjustment
Special Adjustment
Proportional Adjustment
Q 6. What is the cost of acquisition for shares of a company acquired in the resulting company in case of demerger?
Cost of acquisition of shares held by the assessee in the demerged company
Netbook value of assets transferred by demerger
Fair Market Value as of date of acquisition
None of the above
Q 7. What is the threshold turnover limit for GST registration for stockbrokers on a pan-India basis?
Rs. 5 lakhs
Rs. 10 lakhs
Rs. 15 lakhs
None of the above
Q 8. What type of securities are FCCBs considered as in terms of accessing external commercial borrowings (ECBs)?
Approved instruments
Prohibited instruments
Regulated instruments
None of the above
Q 9. What is round-trip financing?
A method of financing a business venture in a circular manner
A series of transactions involving the transfer of funds between parties without substantial commercial purpose
A financing arrangement for construction projects
A financing mechanism for startups
Q 10. What is the basis for determining the movement out of a Demat account under the FIFO method?
date of purchase
date of sale
date of entry into the account
date of contract
Q 11. Which regulation governs Registrars to an Issue according to SEBI guidelines?
SEBI (Bankers to the Issue) Regulations, 1994
SEBI (Portfolio Managers) Regulations, 2020
SEBI (Debenture Trustees) Regulations, 1993
None of the above
Q 12. What happens to income earned from securities not specified in para 11.6-6b in a specified fund?
I am exempt from tax
It is taxed at a concessional rate
It is taxed at a higher rate
It is taxed at a normal tax rate
Q 13. What is the threshold turnover limit for GST registration for mutual fund distributors on a pan-India basis?
Rs. 5 lakhs
Rs. 10 lakhs
Rs. 15 lakhs
None of the above
Q 14. What is a Fund for Funds (FoF) in the context of mutual funds?
A fund that invests solely in government bonds
A fund that invests in other schemes of mutual funds
A fund that invests only in real estate properties
None of the above
Q 15. Who is not eligible to open an NPS account?
Overseas Citizens of India (OCI)
Person of Indian Origin (PIO) cardholders
Hindu Undivided Families (HUFs)
All of the above
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