n NISM Certifications
X NISM Series X
Medium

Which transaction is NOT considered a transfer of a capital asset under Indian Income Tax Act?

Practice question from NISM Series XB- Investment Adviser (Level 2) Mock Test 3 — bank. The correct answer is highlighted below with a full explanation.

Options

  1. A

    Sale of house property

  2. Transfer of property under a Will

    Correct answer

  3. C

    Sale of shares

  4. D

    Distribution of assets on partnership dissolution

Why this is the answer

Transfers under a Will are exempt from capital gains tax and are not classified as transfers under the Act.

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