A Capital Gain may be defined as profit arising from increases in the market value of capital assets to a person or corporate body, who does not habitually offer them for sale and in whose hands they do not constitute stock-in-trade.
It is gain from sales of any capital asset where the sale price exceeds the purchase price of the investment. Therefore, it is a tax chargeable at the rate of 10 per cent on the capital gains arising from the disposal of capital assets. Capital Assets
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