Gain on disposal of immovable property is chargeable to at _____%, where holding period is up to one year.

Question

Quizplus · Accepted Answer

The gain on disposal of immovable property, where the holding period is up to one year, is typically charged at a higher rate due to its classification as a short-term capital gain. In many jurisdictions, short-term capital gains are taxed at the ordinary income tax rates or specific rates applicable to such gains. However, without specifying a jurisdiction, it's challenging to provide a precise rate. The choice provided (10%) is a common rate for short-term capital gains in various tax codes, but it's important to consult the specific tax legislation of the relevant country or region for accurate information.

Gain on Disposal of Immovable Property Is Chargeable to at _____