Capital Gains and Capital Asset
Capital Gains refers to the profit made by an individual or an entity when they sell a capital asset, such as property, stocks, or mutual funds, at a higher price than its purchase price. A capital asset is any asset that an individual or an entity owns for personal or investment purposes, such as land, buildings, vehicles, stocks, bonds, and mutual funds. The difference between the purchase price and the sale price is the capital gain. It is subject to taxation under the Income Tax Act of India. The tax rate on it depends on various factors, such as the holding period of the asset and the type of asset sold.
For more information to visit:https://www.incometax.gov.in
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