Question:
Under the act, gains tax is on both long term and short term gains.
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
The tax that applies to both long term and short term gains is capital gains tax, a fixed legal term. A tax that is imposed by law is said to be levied, which is the verb the sentence needs.
- capital ... levied is correct because "capital gains tax" is the exact statutory term, and a tax is levied on gains.
- lottery ... charged is wrong because there is no "lottery gains tax" split into long and short term.
- property ... calculated is wrong because the standard term is capital gains, not "property gains tax."
- bonus ... deducted is wrong because "bonus gains tax" is not a recognised category.
The correct word-pair is capital and levied.
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