Teaching UGC NET Mock Test Series 2025 (Paper 1 & 2) Income-tax and Corporate Tax Planning Income-tax
Given below are two statements
Statement I: Long term capital loss can only be set off against the long term capital gains.
Statement II: Long-term capital gains exceeding Rs one lakh are subject to tax at the rate of 10% with indexation and at 20% without indexation.
In light of the above statements, choose the most appropriate answer from the options given below
1
Both Statement I and Statement Il are correct
2
Both Statement I and Statement Il are incorrect
3
Statement I is correct but Statement Il is incorrect
4
Statement I is incorrect but Statement Il is correct