Capital Gain

Capital Gain on Property Matter

Any profit or gain that arises from the sale of a capital asset comes under the category income from capital gains and needs to pay tax for profit.

  • Capital gains or losses may arise from sale of different types of capital assets.
  • Any profit or gain that arises from the sale of a ‘capital asset’ is a capital gain. This gain or profit comes under the category ‘income’ and need to pay tax.
  • Land, building, house property, vehicles, patents, trademarks, leasehold rights, machinery and jewellery are a few examples of capital assets.
  • Planning is the most important before selling the property. For how to avail the capital gain, advise has to be taken from the CA or Advocates who are experts in this field.
  • STCA (Short-term Capital Asset) An asset held for a period of 36 months or less is a Short-term Capital Asset.
  • Some assets are considered Short-term Capital Assets when these are held for 12 months or less. This rule is applicable if the date of transfer is after 10th July 2014.

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