Long term and Short term property

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Long term and Short term property:-

Different assets have different periods of holding to be called short term and long term. The person buying the property must deduct taxes at the rate applicable to the NRI's income slab, if the property is a short term asset. If the property is long term asset, 20% LTCG tax applies. 


What is long-term and short-term capital? 

Short-term capital gains result from selling capital asssets owned for one year or less and are taxed as regular income. Long-term gains result fromselling capital assets owned for mor than one year and are subject to tax of 0%, 15%, or 20%.


What is short term capital gain in property?

Short term capital gains = sale cost of asset - (expenditure incurred on asset) - (cost of acquistion/improvement) Long term Capital Gains = cost of selling a property - Indexed cost of acquisition.



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