CAT Questions

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Capital Gains Tax on Property:

1. Short term,

2. Long term

Short Term Capital Gain on property is considered as a gain from selling a property which was held by you for less than 36 months. As a taxpayer, you are liable to pay tax on short term capital gain on property as per your applicable marginal income tax slab.

* Current Short Term Capital Gains tax rate is 30%.

Long Term Capital Gain

When you sell your property that is owned by you for more than three years, any gain arising from such sale will be considered as long term capital gain. Long term capital gain is calculated as the difference between net sales consideration and indexed cost of property.

* Current Long Term Capital Gains tax rate is 20%.

Largest sea in the world is Philippine sea.

Brazil is one example of a closed economy in the given options. 

A closed economy is one that has no trade activity with outside economies. A closed economy is self-sufficient, which means no imports come into the country and no exports leave the country. A closed economy's intent is to provide domestic consumers with everything they need from within the country's borders.

Assemblers are used to translate a program written in a low-level assembly language into a machine code (object code) file so it can be used and executed by the computer.

Hence, Assembler is the translator program used in assembly language.

Belarus is a European country whose capital city is Minsk.

A Jig saw puzzle pieces are in different colors which have different shapes. 

You can put it anywhere you like but there is only one right place for it to be fit in it.

Let the two different rates of interests be r1 and r2 respectively.

From the given data,

$$\begin{gathered} 2600 x 4 x r1 - r2100 = 402.80 \\ r1 - r2 = 402.80104 = 3.87 \end{gathered}$$

Hence, the difference in the interest rates = 3.87