Capital Gains Tax is a tax on the profit when you sell (or 'dispose of') something (an 'asset') that's increased in value. It's the gain you make that's taxed, not the amount of money you receive.
What is the capital gains tax rate for 2022 UK?
Capital Gains Tax is charged at a flat rate of 18%.
How is capital gain tax calculated?
Long-term capital gain = Final Sale Price – (indexed cost of acquisition + indexed cost of improvement + cost of transfer), where: Indexed cost of acquisition = cost of acquisition x cost inflation index of the year of transfer/cost inflation index of the year of acquisition.
What is capital gains tax in India?
It is a tax levied on an individual's and. However, movable personal assets such as furniture, apparel etc. are excluded from this tax. Two types of capital gains tax which are levied on long-term and short-term gains start from 10% and 15%, respectively.
What is capital gains tax in Canada?
Capital gains: In Canada, only 50% of the total capital gains is taxable. It is included in your annual taxable income and taxed at your marginal tax rate.