Capital Gain

This discussion clarifies the difference between short-term and long-term capital gains tax on property. If a house purchased on 1st April 2018 is sold on 31st May 2019, it results in a short-term capital gain as the ownership period is less than 24 months. The thread also explores methods to save on short-term capital gains tax, such as purchasing another house to potentially claim exemption under section 54H.