How Capital Gain Tax is calculated? Let's understand what are -Short Term Capital Gain Tax and Long Term Capital Gain Tax. As we know that tax are categorised as direct tax and indirect tax. For example GST (goods and service tax) is indirect tax and Income tax is direct tax as it is paid by the same person on whom it is levied. The capital gain tax is also a direct tax. It is applied on the sales of all assets if the owner of the assets has made profit (gain) by selling the assets. Assets means property like house, equity shares, mutual funds etc. It can be classified into two - 1) Short Term Capital Gain Tax. 2) Long Term Capital Gain Tax. Now, let's understand these two types one by one in a layman terms: 1) Short Term Capital Gain Tax:- It applies if asset has been sold within 36 months of owning it. In this scenario the rate ...
Aryavart Geopolitics strategically analyse the recent national and international events from India's point of view.