TAX ON LONG-TERM CAPITAL GAINS

instead of 36 months in case of immovable property being land or building or both. Illustration Mr. Kumar is a salaried employee. In the month of April, 2011 he purchased a piece of land and sold the same in December, 2019. In this case, land is a capital asset for Mr. Kumar. He purchased land in April, 2010 and sold in December, 2019 i.e. after holding it for a period of more than 24 months. Hence, land will be … ................
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