The following conditions must be satisfied for attracting capital gains tax liability except:
A. There should be a capital asset
B. It must be transferred by the assessee within the meaning of sections 46 and 47.
C. The transfer takes place during the previous years
D. The gains arising are not exempt.
Answer:B
The following conditions must be satisfied for attracting capital gains tax liability except:
A. There should be a capital asset B. It must be transferred by the assessee within the meaning of sections 46 and 47. C. The transfer takes place during the previous years D. The gains arising are not exempt.