Long Term Capital Gains (LTCG) on the sale of listed equity shares over Rs 1 Lakh is currently taxable at: MCQ with Answer and Explanation

Question
Long Term Capital Gains (LTCG) on the sale of listed equity shares over Rs 1 Lakh is currently taxable at:
A. 20% without indexation
B. 10% without indexation
C. 30% with indexation
D. 15% with indexation
Answer: Option B
Solution (By JKSSB Mock Tests)
Under Section 112A, LTCG on listed equity shares exceeding Rs 1 lakh in a year is taxed at 10% without the benefit of indexation.
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The primary objective of management accounting is to:
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Correct Answer: Option A

Explanation:
Management accounting focuses on providing internal management with the financial and non-financial information needed for planning, controlling, and decision-making.
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'Borrowing Costs' eligible for capitalization are determined as per:
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Correct Answer: Option C

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AS 16 Borrowing Costs provides guidance on capitalization of borrowing costs on qualifying assets.
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A 'Flexible Budget' is also known as:
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Correct Answer: Option A

Explanation:
Flexible budget changes with activity levels, hence also called variable or sliding scale budget.
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