I have a a query regarding the long term capital gain tax on sale of a COMMERCIAL property e.g. A Shop or Showroom.
I have read many articles and expert advices on the sale of house property but i am unable to find anything related to commercial property. I would be great if some of the experts can shed light on how is the LCGT calculated and are there any exemption one can avail.
I also wanted to know if one sells a commercial property e.g. a Shop and immediately buys another shop of approx the same value then is liable to pay the capital gain tax ?