Question:easy

Under the act, gains tax is on both long term and short term gains.

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There is one well-known tax that is classified into long term and short term; the verb means to impose a tax.
Updated On: Jul 21, 2026
  • lottery ... charged
  • property ... calculated
  • bonus ... deducted
  • capital ... levied
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The Correct Option is D

Solution and Explanation

Long term and short term are the two heads under which one specific tax falls, and that is capital gains tax. Taxes are not casually charged or deducted here; the formal word for imposing a tax is levied.

  • capital ... levied gives the precise tax name and the correct legal verb.
  • lottery ... charged fails because lottery winnings are not classed as long or short term gains.
  • property ... calculated fails because the recognised term is capital gains.
  • bonus ... deducted fails because "bonus gains tax" does not exist.

Correct pair: capital and levied.

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