n NISM Certifications
X NISM Series X
Medium

Unlisted units of UTI held for more than 12 months are classified as long-term capital assets for tax purposes.

Practice question from NISM Series XB- Investment Adviser (Level 2) Mock Test 4 — bank. The correct answer is highlighted below with a full explanation.

Options

  1. 12 months

    Correct answer

  2. B

    24 months

  3. C

    36 months

  4. D

    48 months

Why this is the answer

Holding units of UTI, listed or unlisted, for over 12 months qualifies them as long-term capital assets under tax laws.

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