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

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Davneet Singh

Davneet Singh is a graduate from Indian Institute of Technology, Kanpur. He has been teaching from the past 12 years. He provides courses for Maths and Science at Teachoo.