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    What do you mean by Capital Gain?

    Answered 21-Oct-2022

    The profit that is earned by selling an asset means capital gain. When the asset is being sold the income or the gain that arises is the difference between the selling price and the actual price in which it was bought. Capital Gain can be short-term or long-term. If the asset is held for less than a year and is sold then it is termed as short-term gain but if the asset is held for more than a year to three years and sold after that then it is termed as a long-term gain.

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