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Jun 27, 2024 · Such capital gains are taxable in the year in which the transfer of the capital asset takes place. This is called capital gains tax. There are two types of Capital Gains: short-term capital gains (STCG) and long-term capital gains (LTCG).
Jul 1, 2024 · Capital gains arising from the transfer of long-term capital assets is referred to as long-term capital gains. The long-term capital gains taxation is divided into two sections: Section 112 and Section 112A . Section 112A applies in the case of the following assets: Equity share in a listed company. Unit of equity-oriented fund.
Aug 1, 2023 · Chargeability: Capital gains shall be chargeable to tax if following conditions are satisfied: a) There should be a capital asset. In other words, the asset transferred should be a capital asset on the date of transfer; b) It should be transferred by the taxpayer during the previous year;
Jun 26, 2024 · Capital Gain Tax in India is the tax imposed by the government on the profit earned from the sale of certain assets, such as stocks, bonds, real estate, or other investments. This tax applies to both individuals and businesses.
Jul 12, 2024 · Equity-Oriented Mutual Funds. Short-Term Capital Gains (STCG): If the holding period is less than 12 months, the gains are considered short-term and taxed at 15%. Long-Term Capital Gains (LTCG): If the holding period is more than 12 months, the gains are considered long-term.Gains up to ₹1 lakh in a financial year are tax-exempt.
Jun 18, 2024 · A capital gains tax is a tax imposed on the sale of an asset. The long-term capital gains tax rates for the 2023 and 2024 tax years are 0%, 15%, or 20% of the profit, depending on...
To simplify the Capital gain tax meaning, the tax that is levied on capital gains is termed as capital gain tax. Such taxes are levied when an asset is transferred between owners. Though all capital gains are liable for taxation, the tax approach for long-term gains tend to differ from that of short-term gain.
The entire value earned from selling a capital asset is considered as taxable income. To be eligible for taxation during a financial year, the transfer of a capital asset should take place in the previous fiscal year. Financial gains against a sale of an asset are not applicable to inherited property.
Jul 4, 2024 · |. 9 min read. Assets like stocks, bonds, property, mutual fund units, etc., are great investment options that generate capital gains when sold/redeemed. Thus, they are called capital assets, and the profits generated from their sale are liable for taxation under the head capital gains.
Long-term capital gains are taxed at 10% if the gain exceeds Rs 1 lakh, while short-term capital gains are taxed at 15%. A broker provides you with a capital gains statement towards the end of the ...
