n NISM Certifications
X NISM Series X
Medium

Which of the following is NOT considered a capital asset?

Practice question from NISM Series XB- Investment Adviser (Level 2) Mock Test 6 — bank. The correct answer is highlighted below with a full explanation.

Options

  1. A

    Equity shares held by FIIs

  2. Motor car for personal use

    Correct answer

  3. C

    Silver ornaments

  4. D

    All of the above

Why this is the answer

Under tax law, movable personal effects like cars are not classified as capital assets, whereas shares and ornaments are considered capital assets.

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