PROPERTY TAX

on sale of immovable property like lands etc. comes under Capital gain. It can be defined as any profit that is received through the sale of a capital asset. Immovable properties are comes under capital assets. The profit that is received falls under the income category. Therefore, a tax needs to be paid on the income that is received. The tax that is paid is called capital gains tax.Calculation of tax can be followed in income tax website.