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Under which of the following circumstances may 'capital gains' arise? 1. When there is an increase in the sells of a product 2. When there is a natural increase in the value of the property. 3. When you purchase a painting and there is a growth in its value due to an increase in its popularity. Select the correct answer using the codes given below:

Under which of the following circumstances may 'capital gains' arise? 1. When there is an increase in the sells of a product 2. When there is a natural increase in the value of the property. 3. When you purchase a painting and there is a growth in its value due to an increase in its popularity. Select the correct answer using the codes given below: Correct Answer 2 and 3 only   

The correct answer is 2 and 3 only

Key Points

  • Any profit or gain that arises from the sale of a ‘capital asset’ is a capital gain.
  • Capital gains tax is a tax imposed on gains derived from the disposition of capital assets.
  • This gain or profit is charged to tax in the year in which the transfer of the capital asset takes place.
  •  'Capital Gains' arise when,
    • When there is a natural increase in the value of the property.
    • When you purchase a painting and there is a growth in its value due to an increase in its popularity.
    • Hence statement 2 and 3 are correct.

Additional Information

  • The following are not included under capital assets –
    • Any stock, consumables or raw materials that are held for the purpose of business or profession.
    • Goods such as clothes or furniture or paintings which are held for personal use.
    • Land or there is natural increase in property.
    • Special bearer bonds were issued in 1991.
    • Gold bonuses issued by the Central Government.
    • Gold deposit bonds.
    • When there is an increase in the sells of a product. Hence statement 1 is not correct.

Related Questions

An oil painting by late Chinese-French artist Zao Wou-Ki became the most expensive oil painting ever sold at auction by an Asian artist. The painting fetched $65 million in the auction at Sotheby’s Hong Kong. Which of the following do not support the statement? I: The oil painting by late Chinese-French artist became the most expensive oil painting ever sold at auction. II: The auction at Sotheby’s Hong Kong on the painting fetched $65 million which is the highest till date for any artist. III: Zao Wou-Ki was an Asian artist who ever sold the most expensive oil painting.
Read the passage carefully and select the best answer to each question out of the given four alternatives. One should consciously engage in activities that will nourish your soul. Just as we nourish the body, we need to nurture the soul to connect to the creative power ofthe universe and to manifest joy in our lives. Often, we forget to address the soul, lost as we are in a jungle of material and sensual pleasures. But the more youembrace what feeds your soul, the happier you become. So if you want to enjoy the abundance of life, engage in what enriches your soul. Nurturing the soul is allabout finding calm amidst chaos. There are a number of practices that empower people towards this end including silent contemplation, various forms of meditation,yoga and tai chi However, the rigor and discipline involved in the pursuit of such practices often seems to discourage people. Add to this, the temptations of thematerial world that leave little time and motivation for anyone to pursue the spiritual path. Poet Walt Whitman declared: “Whatever satisfies the soul is truth”. Thegood news is that simple, everyday activities can also nutrify the soul — like spending time in the midst of nature, dancing in the rain or just putting thoughts onpaper. Do whatever is calming and pleases you. Creative pursuits are particularly appealing as inside each one of us, there is an artist craving for release andawaiting an opportunity for expression. One of the ways to indulge the artist within is to get started with the practice of any one or more of the creative art formssuch as music, singing, dancing, acting, drawing, painting, sculpting, poetry, fiction or essay writing. When you engage in such soul nourishing activities, all thought and energy gets focused toward goal accomplishment. At this point, you will find that even unknownforces of the universe are conniving to assist you in your amateurish but sincere attempts. As you progress, you are motivated to do better. You touch and access afaculty, a part of you that you never knew existed. Your inner artist is unleashed, baring the beauty of your soul that has found a fond medium of expression. Forinstance, a sculptors soul is seen in his artwork; a musicians in his compositions; an actors in his acting, a painters in his paintings and so on. It is immaterialwhether your effort is an immaculate artwork or just a clumsy attempt by a layperson. The idea is to try, be inspired and to create giving free rein to the mind. AsMichelangelo remarked: “I saw the angel in the marble and carved until I set him free”! What can you infer from Michelangelos statement - "I saw the angel in the marble and carved until I set him free"?
A passage is given with five questions following it. Read the passage carefully and select the best answer to each question out of the given fouralternatives. Just as space permeates everything in the universe, love permeates every part, every aspect of creation. If there is one answer to the question, “How and why doesthis world exist?” the answer, in one word, is Love. Rather, the answer is Pure Love, since the word love has lost its meaning. Your very existence is an expression of pure unconditional love of the Source (you may call it Consciousness, Creator, God, Divine Self). This is the truth of your being.True love transcends both love and hatred. It is unconditional, unquestioning, boundless, unchanging love. It is overflowing love of the Source for the Source throughall of creation. True love is way beyond the personalized love that two or more individuals assert on one another. Personalized love, though apparently selfless, is rooted in desiresand conditional satisfaction. We have been brought up in a society that judges love based on conditions. We have been made to believe that we can receive love only when we fit into peoplesexpectations. If we are not good enough, we will be deprived of love. These beliefs have influenced the collective psyche of families, groups, communities, and societies since generations to such an extent that love has been reduced tofear of denial. We need to shift from the paradigm of false conditional love to the essence of pure unconditional love . The experience of true love comes with surrender of the false I, in letting go of the feeling of separateness. Without this sacrifice, it is not possible to attain divinelove. When this separate I is discarded, you embrace everything in oneness and catch a glimpse of pure love. True love can be experienced only through giving, not by demanding. People who exist in your life are not here to love you. They are here to remind you that you arethe Source of Love. By knowing that you are the Source of love, you can love yourself, instead of waiting to receive love from the world. Ask yourself, “Why do I need an agent to love myself?” Waiting for the world to love you, is like hiring an agent to love yourself! It is time for you to honor yourself as the Source of love. You have undertaken this human journey to realize and express the boundless love that you truly are. According to the passage, which of the following statement is not TRUE?
A passage is given with five questions following it. Read the passage carefully and select the best answer to each question out of the given fouralternatives. Just as space permeates everything in the universe, love permeates every part, every aspect of creation. If there is one answer to the question, “How and why doesthis world exist?” the answer, in one word, is Love. Rather, the answer is Pure Love, since the word love has lost its meaning. Your very existence is an expression of pure unconditional love of the Source (you may call it Consciousness, Creator, God, Divine Self). This is the truth of your being.True love transcends both love and hatred. It is unconditional, unquestioning, boundless, unchanging love. It is overflowing love of the Source for the Source throughall of creation. True love is way beyond the personalized love that two or more individuals assert on one another. Personalized love, though apparently selfless, is rooted in desiresand conditional satisfaction. We have been brought up in a society that judges love based on conditions. We have been made to believe that we can receive love only when we fit into peoplesexpectations. If we are not good enough, we will be deprived of love. These beliefs have influenced the collective psyche of families, groups, communities, and societies since generations to such an extent that love has been reduced tofear of denial. We need to shift from the paradigm of false conditional love to the essence of pure unconditional love . The experience of true love comes with surrender of the false I, in letting go of the feeling of separateness. Without this sacrifice, it is not possible to attain divinelove. When this separate I is discarded, you embrace everything in oneness and catch a glimpse of pure love. True love can be experienced only through giving, not by demanding. People who exist in your life are not here to love you. They are here to remind you that you arethe Source of Love. By knowing that you are the Source of love, you can love yourself, instead of waiting to receive love from the world. Ask yourself, “Why do I need an agent to love myself?” Waiting for the world to love you, is like hiring an agent to love yourself! It is time for you to honor yourself as the Source of love. You have undertaken this human journey to realize and express the boundless love that you truly are. Which of the following statement(s) is/are TRUE about pure love?
A passage is given with five questions following it. Read the passage carefully and select the best answer to each question out of the given fouralternatives. Just as space permeates everything in the universe, love permeates every part, every aspect of creation. If there is one answer to the question, “How and why doesthis world exist?” the answer, in one word, is Love. Rather, the answer is Pure Love, since the word love has lost its meaning. Your very existence is an expression of pure unconditional love of the Source (you may call it Consciousness, Creator, God, Divine Self). This is the truth of your being.True love transcends both love and hatred. It is unconditional, unquestioning, boundless, unchanging love. It is overflowing love of the Source for the Source throughall of creation. True love is way beyond the personalized love that two or more individuals assert on one another. Personalized love, though apparently selfless, is rooted in desiresand conditional satisfaction. We have been brought up in a society that judges love based on conditions. We have been made to believe that we can receive love only when we fit into peoplesexpectations. If we are not good enough, we will be deprived of love. These beliefs have influenced the collective psyche of families, groups, communities, and societies since generations to such an extent that love has been reduced tofear of denial. We need to shift from the paradigm of false conditional love to the essence of pure unconditional love . The experience of true love comes with surrender of the false I, in letting go of the feeling of separateness. Without this sacrifice, it is not possible to attain divinelove. When this separate I is discarded, you embrace everything in oneness and catch a glimpse of pure love. True love can be experienced only through giving, not by demanding. People who exist in your life are not here to love you. They are here to remind you that you arethe Source of Love. By knowing that you are the Source of love, you can love yourself, instead of waiting to receive love from the world. Ask yourself, “Why do I need an agent to love myself?” Waiting for the world to love you, is like hiring an agent to love yourself! It is time for you to honor yourself as the Source of love. You have undertaken this human journey to realize and express the boundless love that you truly are. What does source refers to in the last line of the second para of the passage?
A passage is given with five questions following it. Read the passage carefully and select the best answer to each question out of the given fouralternatives. Just as space permeates everything in the universe, love permeates every part, every aspect of creation. If there is one answer to the question, “How and why doesthis world exist?” the answer, in one word, is Love. Rather, the answer is Pure Love, since the word love has lost its meaning. Your very existence is an expression of pure unconditional love of the Source (you may call it Consciousness, Creator, God, Divine Self). This is the truth of your being.True love transcends both love and hatred. It is unconditional, unquestioning, boundless, unchanging love. It is overflowing love of the Source for the Source throughall of creation. True love is way beyond the personalized love that two or more individuals assert on one another. Personalized love, though apparently selfless, is rooted in desiresand conditional satisfaction. We have been brought up in a society that judges love based on conditions. We have been made to believe that we can receive love only when we fit into peoplesexpectations. If we are not good enough, we will be deprived of love. These beliefs have influenced the collective psyche of families, groups, communities, and societies since generations to such an extent that love has been reduced tofear of denial. We need to shift from the paradigm of false conditional love to the essence of pure unconditional love . The experience of true love comes with surrender of the false I, in letting go of the feeling of separateness. Without this sacrifice, it is not possible to attain divinelove. When this separate I is discarded, you embrace everything in oneness and catch a glimpse of pure love. True love can be experienced only through giving, not by demanding. People who exist in your life are not here to love you. They are here to remind you that you arethe Source of Love. By knowing that you are the Source of love, you can love yourself, instead of waiting to receive love from the world. Ask yourself, “Why do I need an agent to love myself?” Waiting for the world to love you, is like hiring an agent to love yourself! It is time for you to honor yourself as the Source of love. You have undertaken this human journey to realize and express the boundless love that you truly are. According to the passage, whom to honour as the source of love?
Read the passage carefully and select the best answer to each question out of the given four alternatives. One should consciously engage in activities that will nourish your soul. Just as we nourish the body, we need to nurture the soul to connect to the creative power ofthe universe and to manifest joy in our lives. Often, we forget to address the soul, lost as we are in a jungle of material and sensual pleasures. But the more youembrace what feeds your soul, the happier you become. So if you want to enjoy the abundance of life, engage in what enriches your soul. Nurturing the soul is allabout finding calm amidst chaos. There are a number of practices that empower people towards this end including silent contemplation, various forms of meditation,yoga and tai chi However, the rigor and discipline involved in the pursuit of such practices often seems to discourage people. Add to this, the temptations of thematerial world that leave little time and motivation for anyone to pursue the spiritual path. Poet Walt Whitman declared: “Whatever satisfies the soul is truth”. Thegood news is that simple, everyday activities can also nutrify the soul — like spending time in the midst of nature, dancing in the rain or just putting thoughts onpaper. Do whatever is calming and pleases you. Creative pursuits are particularly appealing as inside each one of us, there is an artist craving for release andawaiting an opportunity for expression. One of the ways to indulge the artist within is to get started with the practice of any one or more of the creative art formssuch as music, singing, dancing, acting, drawing, painting, sculpting, poetry, fiction or essay writing. When you engage in such soul nourishing activities, all thought and energy gets focused toward goal accomplishment. At this point, you will find that even unknownforces of the universe are conniving to assist you in your amateurish but sincere attempts. As you progress, you are motivated to do better. You touch and access afaculty, a part of you that you never knew existed. Your inner artist is unleashed, baring the beauty of your soul that has found a fond medium of expression. Forinstance, a sculptors soul is seen in his artwork; a musicians in his compositions; an actors in his acting, a painters in his paintings and so on. It is immaterialwhether your effort is an immaculate artwork or just a clumsy attempt by a layperson. The idea is to try, be inspired and to create giving free rein to the mind. As Michelangelo remarked: “I saw the angel in the marble and carved until I set him free”! According to the passage, what makes us really happy?
Read the passage carefully and select the best answer to each question out of the given four alternatives. One should consciously engage in activities that will nourish your soul. Just as we nourish the body, we need to nurture the soul to connect to the creative power ofthe universe and to manifest joy in our lives. Often, we forget to address the soul, lost as we are in a jungle of material and sensual pleasures. But the more youembrace what feeds your soul, the happier you become. So if you want to enjoy the abundance of life, engage in what enriches your soul. Nurturing the soul is allabout finding calm amidst chaos. There are a number of practices that empower people towards this end including silent contemplation, various forms of meditation,yoga and tai chi However, the rigor and discipline involved in the pursuit of such practices often seems to discourage people. Add to this, the temptations of thematerial world that leave little time and motivation for anyone to pursue the spiritual path. Poet Walt Whitman declared: “Whatever satisfies the soul is truth”. Thegood news is that simple, everyday activities can also nutrify the soul — like spending time in the midst of nature, dancing in the rain or just putting thoughts onpaper. Do whatever is calming and pleases you. Creative pursuits are particularly appealing as inside each one of us, there is an artist craving for release andawaiting an opportunity for expression. One of the ways to indulge the artist within is to get started with the practice of any one or more of the creative art formssuch as music, singing, dancing, acting, drawing, painting, sculpting, poetry, fiction or essay writing. When you engage in such soul nourishing activities, all thought and energy gets focused toward goal accomplishment. At this point, you will find that even unknownforces of the universe are conniving to assist you in your amateurish but sincere attempts. As you progress, you are motivated to do better. You touch and access afaculty, a part of you that you never knew existed. Your inner artist is unleashed, baring the beauty of your soul that has found a fond medium of expression. Forinstance, a sculptors soul is seen in his artwork; a musicians in his compositions; an actors in his acting, a painters in his paintings and so on. It is immaterialwhether your effort is an immaculate artwork or just a clumsy attempt by a layperson. The idea is to try, be inspired and to create giving free rein to the mind. AsMichelangelo remarked: “I saw the angel in the marble and carved until I set him free”! According to the passage, why even our amateurish attempts motivate us?
Read the passage carefully and select the best answer to each question out of the given four alternatives. One should consciously engage in activities that will nourish your soul. Just as we nourish the body, we need to nurture the soul to connect to the creative power ofthe universe and to manifest joy in our lives. Often, we forget to address the soul, lost as we are in a jungle of material and sensual pleasures. But the more youembrace what feeds your soul, the happier you become. So if you want to enjoy the abundance of life, engage in what enriches your soul. Nurturing the soul is allabout finding calm amidst chaos. There are a number of practices that empower people towards this end including silent contemplation, various forms of meditation,yoga and tai chi However, the rigor and discipline involved in the pursuit of such practices often seems to discourage people. Add to this, the temptations of thematerial world that leave little time and motivation for anyone to pursue the spiritual path. Poet Walt Whitman declared: “Whatever satisfies the soul is truth”. Thegood news is that simple, everyday activities can also nutrify the soul — like spending time in the midst of nature, dancing in the rain or just putting thoughts onpaper. Do whatever is calming and pleases you. Creative pursuits are particularly appealing as inside each one of us, there is an artist craving for release andawaiting an opportunity for expression. One of the ways to indulge the artist within is to get started with the practice of any one or more of the creative art formssuch as music, singing, dancing, acting, drawing, painting, sculpting, poetry, fiction or essay writing. When you engage in such soul nourishing activities, all thought and energy gets focused toward goal accomplishment. At this point, you will find that even unknownforces of the universe are conniving to assist you in your amateurish but sincere attempts. As you progress, you are motivated to do better. You touch and access afaculty, a part of you that you never knew existed. Your inner artist is unleashed, baring the beauty of your soul that has found a fond medium of expression. Forinstance, a sculptors soul is seen in his artwork; a musicians in his compositions; an actors in his acting, a painters in his paintings and so on. It is immaterialwhether your effort is an immaculate artwork or just a clumsy attempt by a layperson. The idea is to try, be inspired and to create giving free rein to the mind. AsMichelangelo remarked: “I saw the angel in the marble and carved until I set him free”! What activities can nutrify soul?
Read the passage carefully and select the best answer to each question out of the given four alternatives. One should consciously engage in activities that will nourish your soul. Just as we nourish the body, we need to nurture the soul to connect to the creative power ofthe universe and to manifest joy in our lives. Often, we forget to address the soul, lost as we are in a jungle of material and sensual pleasures. But the more youembrace what feeds your soul, the happier you become. So if you want to enjoy the abundance of life, engage in what enriches your soul. Nurturing the soul is allabout finding calm amidst chaos. There are a number of practices that empower people towards this end including silent contemplation, various forms of meditation,yoga and tai chi However, the rigor and discipline involved in the pursuit of such practices often seems to discourage people. Add to this, the temptations of thematerial world that leave little time and motivation for anyone to pursue the spiritual path. Poet Walt Whitman declared: “Whatever satisfies the soul is truth”. Thegood news is that simple, everyday activities can also nutrify the soul — like spending time in the midst of nature, dancing in the rain or just putting thoughts onpaper. Do whatever is calming and pleases you. Creative pursuits are particularly appealing as inside each one of us, there is an artist craving for release andawaiting an opportunity for expression. One of the ways to indulge the artist within is to get started with the practice of any one or more of the creative art formssuch as music, singing, dancing, acting, drawing, painting, sculpting, poetry, fiction or essay writing. When you engage in such soul nourishing activities, all thought and energy gets focused toward goal accomplishment. At this point, you will find that even unknownforces of the universe are conniving to assist you in your amateurish but sincere attempts. As you progress, you are motivated to do better. You touch and access afaculty, a part of you that you never knew existed. Your inner artist is unleashed, baring the beauty of your soul that has found a fond medium of expression. Forinstance, a sculptors soul is seen in his artwork; a musicians in his compositions; an actors in his acting, a painters in his paintings and so on. It is immaterialwhether your effort is an immaculate artwork or just a clumsy attempt by a layperson. The idea is to try, be inspired and to create giving free rein to the mind. AsMichelangelo remarked: “I saw the angel in the marble and carved until I set him free”! Why do creative pursuits appeal us?