- March 31, 2020
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The owner of a property (commercial and residential) is liable to pay capital gain tax in the event of sale of the immovable asset. It is categorized as below:
• Long Term capital gain: 20% tax to be borne for properties retained for 3 years and above from the date of ownership.
• Short Term capital gain: 30% tax to be borne for properties retained for less than 3 years from the date of ownership.