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

  1. Practical Income Tax
  2. Important Points of Different Incomes

About the Author

CA Maninder Singh's photo - Expert in Practical Accounts, Taxation and Efiling
CA Maninder Singh
CA Maninder Singh is a Chartered Accountant for the past 8 years. He provides courses for Practical Accounts, Taxation and Efiling at teachoo.com .