Capital gains tax Term Meaning in Real Estate - Guide

Tax charged on the sale of a capital asset is referred to as capital gains tax.

Kopal Cheema

7 years ago

Published Date: Apr 02, 2018

Updated Date: Mar 27, 2024

A capital asset is defined as property of any kind held by a person, including property that is movable or immovable, tangible or intangible, fixed or circulating.

Any profit or gain that arises from the sale of a 'capital asset' is a capital gain. This gain or profit is charged to tax in the year in which the transfer of the capital asset takes place.

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