When a person has paid the security transaction tax on transfer of equity shares he does not have to pay any tax on long term capital gain arising on transfer of that equity share.

A. True

B. False

You can do it
  1. The CBDT consists of
  2. Which of the following income is / are exempt from tax?
  3. Income Tax Act 1922 is a "milestone" because
  4. Sale of agricultural land on 1st April, 1970 is an example of transfer of capital asset.
  5. The amount of taxable income is to be rounded off to the nearest multiple of Re.1 for income tax calculations.
  6. Uncommuted pension received by a Government employee is fully exempt from tax.
  7. Tax' is imposed on a person by
  8. PAN is necessary for the following assessees -
  9. According to Section 2(7) of Income Tax Act "Assessee" means
  10. No interest is available if the amount of refund of income tax paid is less than
  11. A company is considered to be resident if
  12. The Income Tax Act, which is still in force in India, was enforced in
  13. Mr.Karan Kapoor's Taxable Income is Rs.10,00,000. The tax amount will be
  14. TDS, in case of salary should be deposited within
  15. The aggregate income of Mr. Tanmoy under the different heads of income is Rs.1, 50,000. He will get…
  16. Acceleration of income will not be clubbed with the income of the assessee who transfers such income…
  17. The first income tax act was introduced in the year
  18. For the purpose of Fringe Benefit Tax, the term 'Employer' does not include
  19. The aggregate amount of deductions under chapter VI-A can not exceed
  20. Mr. X has started has business from 1st Sept '05,and does not have any other source of income. His first…
  21. The taxable Income computed should be rounded off to the nearest multiple of Rs.10.
  22. Income of minor child, if clubbed with income of parents, is exempt from tax up to
  23. The income of previous year of an assessee is taxed during the following assessment year
  24. The rates of Income Tax are specified in
  25. Every employer should pay fringe benefit tax within
  26. Sec. 234A deals with
  27. Income of a minor will not be clubbed with his/her parent's income if
  28. Income received or deemed to be received in India (whether accrued in or outside India) is taxable in…
  29. House Rent Allowance is exempt from tax
  30. Which of the following statements is incorrect?