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Correct option is C - The new regime offers lower tax rates but removes common deductions like HRA, 80C, 80D, etc.
Correct option is B - You can only claim HRA if you're paying rent and do not own a home in the same city where you work.
Correct option is B - When you sell Mutual Fund units at a higher price than your purchase cost, the profit is considered a capital gain. The gain can be short-term or long-term based on the holding period.
Correct option is C - Whether a capital gain is short-term or long-term depends on how long you’ve held the asset before selling it. Different types of assets have different thresholds for being considered long-term and short-term.
Correct option is B - Tax incentives on long-term capital gains (LTCG) encourage investors to stay invested for long term, which adds stability to financial markets and aligns with wealth-building behaviour.
Correct option is B - Gold is treated as a capital asset. Taxation depends on whether it was held short-term or long-term.
Correct option is C - Interest from Fixed Deposits is taxed as regular income, even if withdrawn early.
Correct option is B - Section 24(b) covers deductions on Home Loan interest. It is separate from principal deductions under 80C.
Correct option is B - Section 54 allows exemption from long-term capital gains tax if proceeds from the sale of a house are reinvested in another residential property.
Correct option is C - NPS allows an extra deduction of Rs 50,000 under Section 80CCD(1B), in addition to the 80C limit. Employer contributions are also tax-deductible under a different section.
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