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Example 1
Asset Purchased for 20 lacs
It is sold after 2 months for 30 lacs
Profit on Sale of Assets=30-20=10 lacs
Example 2
Asset Purchased for 20 lacs
It is sold after 2 months for 18 lacs
Loss on Sale of Asset=20-18=2 lacs
This Profit or loss on Sale of Asset is taxable under Capital Gains
However not all assets covered under Capital Gains
Also Capital Gain is levied not only on Sale but on certain other transactions also.
Lets start by understanding the Charging Section first
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