What is the difference between a capital gain tax and an income tax?

What is the difference between a capital gain tax and an income tax Introduction: The Taxation Landscape Hello everyone! Welcome to today's video, where we'll be exploring the world of taxation. Specifically, we'll be focusing on the differences between two key types of taxes: capital gain tax and income tax. While both fall under the umbrella of taxation, they possess distinct characteristics and implications. So, let's dive in! Defining Capital Gain Tax To comprehend the disparities, it's essential to understand each tax's fundamental nature. Capital gain tax, as the name suggests, pertains to the gains made from the sale or exchange of capital assets. These assets can include real estate, stocks, bonds, or even artwork. When an individual realizes a profit from such a transaction, they become liable for capital gain tax. It's important to note that this tax is only applicable when the asset is sold, not during its ownership. Unpacking Income Tax