fbpx

Capital Gains Tax #CapitalGainsTax

  It is a direct tax.

  It applies on the sales of all ‘assets’ if a profit (gain) has been made by the owner of the asset—a tax on the ‘gains’ one gets by selling assets.

  The tax has been classified into two:

  1. Short Term Capital Gain
    •   It applies ‘if the asset has been sold within 36 months of owning it’.
    •   ‘Rate’ of this tax is similar to the normal income tax slab.
    •   Period is ‘12 months’ in cases of shares, mutual funds, units of the UTI and ‘zero

      coupon bond’—in this case the ‘rate’ of this tax is 15 per cent.

  2. Long Term Capital Gain
    •   It applies ‘if the asset has been sold after 36 months of owning it’.
    •   ‘Rate’ of this tax is 20 per cent.
    •   In cases of shares, mutual funds, units of the UTI and ‘zero coupon bond’ there is ‘exemption’ (zero tax) from this tax.

FOR MORE DETAIL NOTES in This Topic… JUST STAY CONNECTED

For Videos Join us on Youtube-

https://www.youtube.com/channel/UCTusrL4XLGXukIN2GTAoq7g

361 total views, 3 views today

Leave a Reply

Your email address will not be published. Required fields are marked *

error: Content is protected !!
%d bloggers like this: