Ltcg tax news
WebJan 28, 2024 · What is Long-term capital gains tax, or LTCG: Capital gains mean the profit earned by an individual on the sale of his investment in assets such as stocks, real estate, bonds, commodities, etc. Basically, it is the 'gain' made on 'capital investment'. WebApr 11, 2024 · The Income Tax (I-T) Department has notified the Cost Inflation Index (CII) for the current financial year beginning April 2024, for the calculation of long-term capital …
Ltcg tax news
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WebNov 24, 2024 · According to the Income Tax Act, this profit is taxable under capital gains at the rate of 20 per cent. To reduce and at times even do away with the tax liability on long term capital gains, one ... WebFeb 1, 2024 · This is expected to benefit taxpayers in high income tax slabs as well to investors in equity shares of start-ups. Earlier the surcharge on LTCG was capped at 15 percent in case of listed stocks ...
WebResidential Indians between 60 to 80 years of age will be exempted from long-term capital gains tax in 2024 if they earn Rs. 3,00,000 per annum. For individuals of 60 years or younger, the exempted limit is Rs. 2,50,000 every year. Hindu Undivided Families can enjoy tax exemption if the annual income of their family is under Rs. 2,50,000. WebApr 15, 2024 · As per the amendment to the Finance Bill, which came into effect from 1 st April 2024, all capital gains in non-equity funds, whether long term or short term will be …
WebJan 16, 2024 · For example, gains on listed debentures attract Long-Term Capital Gains (LTCG) tax of 10 percent if held for more than 12 months whereas for debt mutual funds, LTCG works out to 20 percent if held ... WebMar 25, 2024 · Finance Bill 2024: The largest casualty category of the move to end LTCG tax for gains from debt funds are the debt funds. But the entire Rs 20 trillion rupees of monies in debt funds aren’t affected because many couldn’t avail of the current LTCG benefits anyway. The ones really hit are the target maturity funds and the Bharat Bond ETFs.
Web1 day ago · The government has bowled a googly by suddenly withdrawing tax benefits on long-term capital gains on debt instruments. It has included this last-minute change in a Finance Bill that has been ...
WebJan 16, 2024 · Get LTCG tax latest news, breaking news, videos, photos, special reports, trends, top news, opinions on LTCG tax at Business Standard. Home; Markets; … png of black ops 2 guyWebApr 11, 2024 · The income tax department has notified the cost inflation index (CII) number for the current financial year. The CII number is used to arrive at the inflation-adjusted … png of bloodWebJan 31, 2024 · Updated: 31-01-2024 05:39:52 AM. When you sell assets after certain specified time periods, you are subject to Long Term Capital Gains Tax (LTCG). LTCG is … png of bootsWebMar 24, 2024 · बिज़नस न्यूज़; investment saving news; mutual fund investors alert no ltcg tax benefit on debt schemes from new financial what impact on investors what should they do png of birds with robinsWebFeb 1, 2024 · The tax rates at which LTCG be taxed are also different for different asset class. For listed equity shares and equity oriented mutual funds, the LTCG is taxed at 10 per cent (without any indexation benefit) if the capital gains exceed Rs 1 lakh in a financial year. png of booksWebIf your LTCG is more than 1 lakh, you will have to pay tax unless your income is less than basic exemption limit. Basis exemption limit for FY20-21 is Rs 2.5 lakh for a resident individual. A few examples to explain the case: Case 1: A person with 3 lakh net regular income, with equity STCG of Rs 75,000 and equity LTCG of 1,25,000. png of borderWebApr 11, 2024 · The cost inflation index (CII), used to compute long-term capital gains on various asset classes for the purpose of taxation, will stand at 348 for the current financial year, 5.13 per cent higher than the previous year's. The CII, notified by the income tax department, serves as the basis for calculating long-term capital gains on stocks, land ... png of box