Tax on income from immovable property selling/renting?

Tax on income from immovable property selling/renting?

Tax on income from immovable property selling/renting?

If they have held the property for less than or equal to 3 years after taking actual possession then the gains would be short term capital gains, which are to be included in their total income as tax as per the normal slab rates shall be payable and if the property has been held for more than 3 years then the resultant gain would be long term capital gains subject to 20% tax plus applicable cess.