Capital Gains Tax Rates A.Y.2023-24 & A.Y.2024-25: The following information provides a comprehensive overview of the Capital Gains Tax Rates applicable to different types of assets, the holding periods for these assets, the concept of indexation, and how to calculate both long-term and short-term capital gain tax for the Assessment Years 2023-24 and 2024-25 in … Read more
Long Term Capital Gain Tax on Shares (Section 112A): If you sell shares or equity-oriented mutual funds after holding them for more than 12 months, the resulting gains are considered long-term capital gains. Prior to the Budget 2018, long-term capital gains on shares and securities on which Securities Transaction Tax (STT) was paid were exempt … Read more
Short-Term Capital Gains on Shares under Section 111A: Capital gains from the transfer of a capital asset are subject to taxation under the head of capital gains. The rates of tax vary based on the type of capital asset and its holding period. This article focuses on short-term capital gains in shares/stocks, specifically those covered … Read more
Capital Gains Tax on Shares: Long-Term & Short-Term A.Y. 2023-24/A.Y.2024-25: Capital gains on shares refer to the profit earned from the sale of shares or stocks. When you sell shares at a price higher than what you initially paid for them, you realize a capital gain. However, if you sell them at a price lower … Read more
Capital Gains Tax on Property (A.Y.2023-24): Capital gains tax (CGT) is a tax levied on the profits earned from the sale or disposal of certain assets, including property. When you sell a property for a higher price than what you initially paid for it, the difference between the sale price and the purchase price is … Read more
Mutual Fund Taxation: Capital Gains and Dividends Explained: Some of you may have heard from your friends about the significant profits they have made by selling mutual funds. These profits are referred to as capital gains in terms of taxation, and they are now subject to taxation. The tax rate for capital gains on mutual … Read more
Capital Gains Tax: Taxation of Short-term & Long-Term: The gain that arises on transferring a capital asset is charged to tax under the head “Capital Gains”. Income from capital gains is divided into two categories as “Short Term Capital Gains” and “Long Term Capital Gains”. Short-term capital gains are profits from selling assets held for … Read more
Indexed Cost of Acquisition shall be calculated in two steps. Calculating the cost of acquisition of capital assets is the first step. CII of the year in which the capital asset is transferred is multiplied by the cost of acquisition and divided by either CII of 2001-02 or CII of the year in which the … Read more
Nowadays every taxpayer is eager to discover avenues whereby he or she can reduce the tax liability. One of the most celebrated ways to reduce tax is to invest in capital gain bonds. Here we will talk about National Highway Authority of India (NHAI) or by the Rural Electrification Corporation Ltd [or any other notified … Read more