Unit ko samjho · NISM Series V-D
Taxation
3 questions is unit mein
Sawaal aur jawaab English mein hain, kyunki NISM ka exam paper bhi English mein hota hai.
Is unit mein kya hai
- During Tax Year 2026–27, a resident individual redeems units of a qualifying equity-oriented mutual fund after eight months and realises a taxable short-term capital gain of ₹60,000. All conditions for the 20% special rate, including applicable STT conditions, are satisfied. With no loss set-off, basic-exemption adjustment, rebate, surcharge or cess, what is the tax on this gain? Assumptions: Qualifying equity-oriented fund, applicable STT conditions and special-rate eligibility are expressly satisfied. The gain is already taxable after any permitted cost adjustments. No other tax adjustment or levy applies.
- An investor has a current-year long-term capital loss of ₹30,000, long-term capital gains of ₹20,000 and short-term capital gains of ₹50,000. No other loss is available. Considering only permitted current-year capital-loss set-off, before exemptions or tax rates, which result is correct? Assumptions: All gains and losses are validly computed for the same tax year. The question asks only about current-year set-off.
- In Tax Year 2026–27, a resident individual has qualifying long-term gains of ₹1,10,000 from one equity-oriented fund and ₹90,000 from another. Both holdings exceed 12 months and all conditions for the special equity LTCG treatment, including applicable STT conditions, are satisfied. There are no other qualifying gains or losses. Apply a single annual ₹1,25,000 threshold and 12.5% to the excess. Ignore basic-exemption adjustments, rebate, surcharge and cess. What is the tax? Assumptions: All stated equity-LTCG classification and STT conditions are satisfied. No other qualifying gain, loss or tax adjustment applies. Surcharge and cess are excluded.
Zaroori ideas
Practice bank se · 1
During Tax Year 2026–27, a resident individual redeems units of a qualifying equity-oriented mutual fund after eight months and realises a taxable short-term capital gain of ₹60,000. All conditions for the 20% special rate, including applicable STT conditions, are satisfied. With no loss set-off, basic-exemption adjustment, rebate, surcharge or cess, what is the tax on this gain? Assumptions: Qualifying equity-oriented fund, applicable STT conditions and special-rate eligibility are expressly satisfied. The gain is already taxable after any permitted cost adjustments. No other tax adjustment or levy applies.
Tax on the stated short-term gain is ₹60,000 × 20% = ₹12,000. The question excludes other adjustments and additional levies so that only this tax component is measured. Remember: Confirm the fund category, holding period and rate conditions before calculating tax.
Hint Apply the stated special rate to the already determined taxable gain.
V-D-036Practice bank se · 2
An investor has a current-year long-term capital loss of ₹30,000, long-term capital gains of ₹20,000 and short-term capital gains of ₹50,000. No other loss is available. Considering only permitted current-year capital-loss set-off, before exemptions or tax rates, which result is correct? Assumptions: All gains and losses are validly computed for the same tax year. The question asks only about current-year set-off.
The ₹30,000 long-term loss absorbs the ₹20,000 long-term gain, leaving ₹10,000 unabsorbed. The ₹50,000 short-term gain is unaffected. Any future carry-forward of the unused loss requires the applicable conditions to be met. Remember: Loss classification determines the gains against which it may be used.
Hint Long-term capital loss can be set off against long-term gains, not short-term gains.
V-D-037Practice bank se · 3
In Tax Year 2026–27, a resident individual has qualifying long-term gains of ₹1,10,000 from one equity-oriented fund and ₹90,000 from another. Both holdings exceed 12 months and all conditions for the special equity LTCG treatment, including applicable STT conditions, are satisfied. There are no other qualifying gains or losses. Apply a single annual ₹1,25,000 threshold and 12.5% to the excess. Ignore basic-exemption adjustments, rebate, surcharge and cess. What is the tax? Assumptions: All stated equity-LTCG classification and STT conditions are satisfied. No other qualifying gain, loss or tax adjustment applies. Surcharge and cess are excluded.
Aggregate gain is ₹2,00,000. Taxable excess is ₹2,00,000 − ₹1,25,000 = ₹75,000, and ₹75,000 × 12.5% = ₹9,375. Remember: An annual threshold is not multiplied by the number of schemes held.
Hint Combine both qualifying long-term gains before applying the one annual threshold.
V-D-038