Ways to Save Capital Gains Tax on sale of property – a plot of land, a residential house, a commercial building or any other capital asset for a higher price than the price you paid for acquiring it. The rates levied are 0%, 15% or 20%, depending on an individual’s tax bracket.Not many are aware of the capital gains tax. It often comes up as an unexpected tax for many people. In some situations, it can turn out to be a huge tax and can eat up the profits you earn while selling a property. The capital gains tax you pay depends on whether it’s short term or long term. Short term capital gains are added to your taxable income, and you have to pay income tax according to the different tax slabs. Long term capital gains attract 20% tax on the gains.