All profits or gains developed from the sale of capital assets can be called capital gain.
The amount gained gets charged under the income tax department for the financial year in which the transfer takes place.
For any capital gains to be taxed it needs to comply with two criteria - capital assets and transfer.
If there is no sale which took place but only inherited then the amount will not be taxed.
Tax amount and calculation vary for short-term capital gain and long-term capital gain.
Understand What Is Capital Asset
A capital asset is any wealth whether movable or immovable, held by the asset holder either for work purpose or personal purpose.
For example building, furniture, motor car or any other vehicle, shares of companies, mutual funds, etc.
According to the Indian Income Tax Act,the capital gain is divided into two parts i.e. Short term capital gain and long-term capital gain.
Short Term Capital Gain
For short-term capital gain, the shares owned by a registered company recognized on stock exchange should be transferred within 12 months from the date of purchase.
Any other asset apart from shares and mutual funds subject to taxation is sold or transferred within 36 months from the date of purchase it will be treated as short-term capital gain.
Long Term Capital Gain
Long term capital gain is just the opposite of short-term capital gains. If the transfer takes place after 12 months of the date of purchase, it is termed as long term capital gain.
Also if the transfer of asset apart from shares and mutual funds takes place after 36 months from the date of purchase, it is called long-term capital gain.
i think,
short term, as per normal IT slab,
long term (profit-loss)*20%
The current capital gains tax rates under the new 2018 tax law are zero, 15 percent and 20 percent, depending on your income. The 2018 capital gains tax rate is holding steady through 2019, but the income required for each rate has changed.
Intraday comes under non speculative trade ? So it’s not a capital gain