Web8,40,000 will be charged to tax as Long Term Capital Gain. Illustration In April, 2024 Mr. Rahul sold his residential house property which was purchased in May, 2024. Capital gain on such sale amounted to Rs. 8,40,000. In this case the house property is sold after holding for a period of less than 24 months and, hence, gain of Rs. Web29 okt. 2024 · Long Term Capital Gains Tax meaning: Long Term Capital Gains Tax or LTCG Tax is the tax levied on the profit generated by an asset such as real estate and shares, which is held for a long time period.
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Web21 dec. 2024 · Larsen & Toubro 386.25 1.93% Track your investments Create a portfolio to track your investments and compete with fellow investors Create Portfolio Active Stocks Tata Steel 104.85 0.77% Bank Of... Web27 feb. 2024 · Long-term capital gains are taxed at only three rates: 0%, 15%, and 20%. Remember, this isn't for the tax return you file in 2024, but rather, any gains you incur … my alk phos is 180
Tax-free capital gains on equities not only affect those in 5% tax ...
WebThe CII is used for calculating ‘long term capital gains (LTCG)’ under Income Tax. CBDT announces fresh CII each year using the base year 2001-02 as equal to 100. The Cost Inflation Index ... 2024-22: 317: 22: 2024-23: 331: 23: 2024-24: 348: ... New and Old tax Regime slab Rates for FY 2024-24 & FY 2024-23 April 12, ... Web12 sep. 2024 · LTCG tax of 20% on Rs 1.31 lakh, i.e. Rs 26,220. Had it not been for indexation benefit, your tax would have been 20% on the full actual profit of Rs 2 lakh: 20% of Rs 2 lakh = Rs 40,000. (The above example uses the CII Number for 2024-20 which is 289. The latest rate for CII 2024-23 is 331 now). So indexation helps reduce your tax … Web15.Jun.2024 Issues on New Income tax e-filing 2.0 Portal; 15.Jun.2024 Finance ministry to hold meeting on 22nd June 2024 with Infosys on issues in the new income tax Portal; 17.Jun.2024 Cost inflation index for Financial Year 2024-22; 17.Jun.2024 100% growth in Net Direct Tax collections for the Financial Year 2024-22; 28.Jun.2024 Extension of ... how to paint stained oak cabinets