Tax Expert Answers Income Tax Questions About Capital Gains

A tax expert, Vipul Bhavsar, is answering questions about income tax.

If you sell inherited land or shares, you might owe capital gains tax.

The amount depends on how long you owned the asset and how much it increased in value.

For example, if you sell a property quickly after inheriting it, you pay short-term capital gains, which means you cannot save on tax.

If you owned it for a long time, you can reduce tax through indexation.

If you pay tax via TDS, you may be able to claim it back.