On January 1, 2021, Grana Inc. purchased 13%, P,500,000 face value bonds of Maldi Inc. at a price to yield 10%. The bonds mature on December 31, 2025. It pays interest annually every December 31. The securities at the date of acquisition were designated by Grana as FVTOCI. On December 31, 2021, the bonds are quoted in the market at 112, while on December 31, 2022, the bonds are quoted at 106. How much is the amount of Unrealized Gain or Loss - OCI recognized in December 31, 2022?

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Capital Gain

Any capital asset when sold can give the seller a higher or lower price from its purchase price leading to a capital gain or capital loss. The time period of holding an asset is decided based on if it is a long term or short-term capital gain. On that basis, the rate of taxation is decided if it is 20%, 15% or according to the tax brackets. The rate of taxation differs in the case of equity or debt, whether long or short term. The capital gain can be adjusted from capital loss to arrive at a net capital gain. The amount of gains and the exemption has to be reported in the tax return filed in the financial year in which the asset was transferred. The tax return can be filed quarterly, monthly, semi-annually or annually.