income tax

capital gain tax on sale of property

Capital Gain Tax on Property Sale

Capital gains can be loosely termed as the profit generated from the sale of any investment or property. Depending on the duration of holding of these assets, capital gains are classified as long-term & short-term gains. According to the Income Tax Act, 1961, any immovable property with a holding period of more than 2 years is classified as long-term capital assets and any profit arise by selling...

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