Please Help: ACCOUNTS
Posted Date : 04-Aug-2012 , 05:32:23 pm | Posted By avijit
WHAT IS THE DIFFERENCE BETWEEN LONGTERM CAPITAL GAIN AND SHORT TERM CAPITAL GAIN?
Category : Accounts | Answers : 1 | Comments : 0 | Hits : 174
Answers
Answer By: Vikash Kumar Jha
A capital gain is simply the difference between the purchase and selling price of an asset. In other words, selling price - purchase price = capital gain (if the price of the asset you purchased has decreased, the result would be a capital loss)
For the purposes of determining tax rates these can be held for one of two time periods: the short term (one year or less) and the long term (more than one year)
For the purposes of determining tax rates these can be held for one of two time periods: the short term (one year or less) and the long term (more than one year)


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