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Which of the following statements are true regarding capital gain tax? 1. Capital gain is the profit realised when an investment is sold for a higher price than original purchase price. 2. Capital gains taxes are only triggered when an asset is realized. Not while it is held by an investor. 3. Normally if an asset is held for less than 24 months, any gain arising from selling, it is treated as a short-term capital gain.
Correct Answer: (c)
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This question appeared in the GPSC Prelims 2019 examination (GS-II). It is Question 12 out of 400 questions in this paper.
This question was part of the GPSC Prelims 2019 (GS-II). The GPSC Prelims examination tests candidates on general studies, current affairs, and aptitude through multiple-choice questions.
Practice previous year questions from all GPSC Prelims papers and compare patterns with UPSC Prelims PYQ to identify overlapping topics.