Under Capital Gains, any profit that is made from a capital asset transfer during the year is taxable.

Depending on the nature of the gain, the amount of tax that must be paid will vary. In order to determine the tax that must be paid, capital gains are differentiated into long-term capital gain and short-term capital gain. Therefore, the computation process varies for short-term capital gains and long-term capital gains.

No, the benefit of indexation is provided for only long-term capital assets and not for short-term capital assets.

If you sell a house, it comes under long-term capital assets. Therefore, any profit that is made is taxable under Capital Gains.

Any profit or gain arising from transfer of a capital asset during the year is charged to tax under the head “Capital Gains”.​

Depending on the account you want to withdraw from, the form that must be filed will vary. In the case of Account-A, Form C must be deposited. In the case of Account-B, the amount must be transferred from Account-B to Account-A. This can be done by submitting Form B.

Gain arising on transfer of long-term capital asset is termed as long-term capital gain and gain arising on transfer of short-term capital asset is termed as short-term capital gain. However, there are a few exceptions to this rule, like gain on depreciable asset is always taxed as short-term capital gain.​​​

The taxability of capital gain depends on the nature of gain, i.e. whether short-term or long-term. Hence to determine the taxability, capital gains are classified into short-term capital gain and long-term capital gain. In other words, the tax rates for long-term capital gain and short-term capital gain are different. Similarly, computation provisions are different for long-term capital gains and short-term capital gains.​​​​

For provisions in this regard check tutorials on “Tax on Short-Term Capital Gains and Tax on Long-Term Capital Gains”.​​​​​​