What is the capital gain tax on the sale of property in India? How to calculate long-term and short-term capital gains and what is the applicable tax rate? A complete guide on property tax.
All of us one day or another day either buy or sell the property. In such a scenario understanding the capital gain tax on the sale of property in India is the most important aspect.
One of my blog readers repeatedly requested this topic. Hence, thought to write a detailed post on capital gain tax on the sale of property in India.
Capital Gain Tax on Sale Of Property in India
You have to understand first the definition of a capital asset, what is chargeable, and the types of asset classes.
What is Capital Asset?
A capital asset is defined to include property of any kind, whether fixed or circulating, movable or immovable, tangible or intangible. Property of any kind, held by the assessee is a capital asset. But excluding the assets like stock-in-trade (consumable…