Diabytes
Long Term Capital Gains News
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The statement makes it clear that the new legislation is focused on making the law easier to understand and streamlining the existing provisions, without introducing any changes in the current tax structure.
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This tax was discontinued in 2005, but was reintroduced in 2018 in the Union Budget for that fiscal.
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LTCG tax is applied on gains made on sale of property
Income Tax charges 20 per cent tax on LTCG
One can save LTCG tax by investing the money into appropriate instruments
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Long-term capital gains are taxed at 10 per cent on profits earned by selling equities
In case of a property, LTCG is taxed at 20 per cent
There are various sections under which LTCG tax can be minimized
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As the noose tightens around shell companies evading taxes, the CBDT Chairman has asked field officers to file prosecution cases against those entities which claimed bogus long-term capital gains.
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