Taxation on sale of physical assets in India: All you should know about capital gains tax, holding period

Tax is levied on the capital gains earned on the sale of an asset and not on the entire sale proceeds. The tax is payable in the year in which the asset is sold. Tax on the sale of physical assets, like property, gold, etc., in India is levied in the year in which the asset is sold and is levied depending on whether these assets are long-term or short-term in nature.

Tax is levied on the capital gains earned on the sale of an asset and not on the entire sale proceeds. The tax is payable in the year in which the asset is sold. Tax on the sale of physical assets, like property, gold, etc., in India is levied in the year in which the asset is sold and is levied depending on whether these assets were long-term or short-term in nature. The nature of the gain is determined in the following manner: In both the above scenarios, if the capital gain is long-term in nature, the rate of tax would be 20% of the net capital gain; and if the capital gain is short-term in nature, the tax would be levied on the net capital gain as per the income tax slab of the individual. Also Read: Best Physical Assets To Invest In As Per Their Liquidity Manner of computa...

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