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  • Question
  • Which capital gains tax on property?


  • Correct Answer
  • Capital Gains Tax on Property: 1 Short term, 2 Long term Short Term Capital Gain on property is considered as a gain from selling a property which was held by you for less than 36 months As a taxpayer, you are liable to pay tax on short term capital gain on property as per your applicable marginal income tax slab * Current Short Term Capital Gains tax rate is 30% Long Term Capital Gain When you sell your property that is owned by you for more than three years, any gain arising from such sale will be considered as long term capital gain Long term capital gain is calculated as the difference between net sales consideration and indexed cost of property * Current Long Term Capital Gains tax rate is 20% 

  • Tags: Analyst, Bank Clerk, Bank PO

    Accounting and Finance problems


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    • 1. A debit signifies a decrease in

    • Options
    • A. revenues
    • B. liability
    • C. owner's equity
    • D. All of the above
    • Discuss
    • 2. Which of these is an example of eminent domain?

    • Options
    • A. a corporator forces public for sell their lands to him
    • B. a state forces people to sell their fields for building highway
    • C. Both A & B
    • D. None of the above
    • Discuss
    • 3. Liabilities are defined as
    • Discuss
    • 4. What is the Debit Balance recovery? How we can recover if we won?t have any future transactions from supplier ?
    • Discuss
    • 5. What is reconciliation ?
    • Discuss
    • 6. What is the table that is used for aging bucket report, what is the main purpose of this report?
    • Discuss
    • 7. Which type of assets should be capitalized and when expense out?
    • Discuss
    • 8. 'Equity schemes managed strong NAV gains, which boost their assets' was a news in some financial newspapers. What is the full form of the term NAV as used in above head lines ?

    • Options
    • A. Nil Accounting Variation
    • B. New Asset Venture
    • C. Net Accounting Venture
    • D. Net Asset Value
    • Discuss
    • 9. Goods that are excludable include both

    • Options
    • A. public goods and common resources
    • B. common resources and private goods
    • C. natural monopolies and public goods
    • D. private goods and natural monopolies
    • Discuss
    • 10. What is cash budget ?
    • Discuss


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