12/03/2024
Equity Investors
Your Investment is a Short Term if a period of holding is up to 12 Month otherwise it will be treated as Long Term
Short Term Capital Gain is Taxable @ 15%
Long Term Capital Gain is exempt up to Rs.1 lakh after that taxable @ 10 % (No Indexation)
Long Term Capital Loss can be set off against Long Term Capital Gain only
Short Term or Long Term losses can be carried forward up to 8 years if you have filed ITR on or before the due date u/s 139(1)
Tips
1:Book Long Term Capital Gain up to Rs.1 lakh during the year as it was exempt from tax
2:If you have already booked a short term capital gain then to save taxes book short term capital losses and repurchase the shares on next day so that such short term losses can get set off against your taxable short term capital gains and no effect to your portfolio
3:If you have already booked a long term gain of more then 1 lakh then to save taxes book short term capital losses or long term capital losses and repurchase the shares on next day so that such short term/long term losses can get set off against your taxable long term capital gains and no effect to your portfolio
Taxation Update Related to Capital Gain/Losses
