Income from sale and purchase of property with in a year and after 1 and 2 year

Income Tax
1

Hi.
if the person received income from sale and purchase of property with in a year and after 1 and 2 year.
it is a long term capital gain,short term or business income?

2

Hey @Summit_Kumar,

In case of immovable property, if it is sold after 24 months, the gains will be long-term and taxed at 20% and if sold before, gains will be short term and taxed at slab rate.

The income will be treated as capital gains.