Capital gain
This query is : Resolved
26 March 2012
Dear sir my name is kumar.pursuing c.s, here my doubt is what is capital gain?short term and long term capital gains?give breif examples?accordence with IT act 1961.
27 March 2012
Capital Gain is a gain arised from the transfer of Capital Assets.
for instance a commercial property is a capital asset when assess trf it more than cost of acquisiton it leads to Capital gain.
short term or long term is determined on the basis of period of holding. if capital assest is held of rmore than 3 yrs / 1 yr (as the case may be) it leads to long term Cap gain if trfd before this period then it leads to Short term Gain.
for instance a commercial property is a capital asset when assess trf it more than cost of acquisiton it leads to Capital gain.
short term or long term is determined on the basis of period of holding. if capital assest is held of rmore than 3 yrs / 1 yr (as the case may be) it leads to long term Cap gain if trfd before this period then it leads to Short term Gain.
27 March 2012
I agree with the expert but for long term capital gains you can avail the benefit of indexation and the appreciable assets are always produces short term capital gain unless the selling price is more than the original cost.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GSTR-1A How to update Invoice
- Excess salary payment.
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- Stamp Paper for partnership firm change new income tax 2025
- TDS on Purchase of Immovable Property by NRI from NRI
- Capital gain from sale of house property
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- SFT Cash Deposit in Current Account
- Annual return in Gst
- When TDS on GST applied
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
- Updated return in budget 2026
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
