Check sibling questions

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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CA Maninder Singh

CA Maninder Singh is a Chartered Accountant for the past 12 years. He also provides Accounts Tax GST Training in Delhi, Kerala and online.