Anil Rego |340 Answers |Ask -Follow
Financial Planner - Answered on Jul 13, 2021
1. What is the capital gains tax that I have to pay and how is it computed?
2. Is the exemption amount of Rs 2 lakhs available for capital gains also?
3. How to pay the CG tax amount and when is it due for payment?
Many thanks for your advice.
Short-term capital gains on redeeming your equity fund units within a holding period of one year are taxed at a flat rate of 15%, irrespective of your income tax bracket. Those funds exceeding one year holding period is treated as a long-term capital gain. The LTCG are exempted from tax up to Rs. 1,00,000 and any LTCG exceeding this limit shall attract a LTCG tax of 10%, and there is no indexation.
3. Paying capital gains is same as paying regular income tax. You have to go to the Income Tax India website and pay tax using challan ITNS 280.
You may like to see similar questions and answers below
Anil Rego |340 Answers |Ask -Follow
Financial Planner - Answered on Jun 09, 2022
Ajit Mishra | Answer |Ask -Follow
Answered on Jun 01, 2021
Anil Rego |340 Answers |Ask -Follow
Financial Planner - Answered on Nov 27, 2020
Tejas Chokshi |126 Answers |Ask -Follow
Tax Expert - Answered on Apr 25, 2023
Samkit Maniar |44 Answers |Ask -Follow
Tax Expert - Answered on Mar 12, 2024
Mayank Chandel |426 Answers |Ask -Follow
IIT-JEE, NEET-UG, SAT, CLAT, CA, CS Exam Expert - Answered on May 02, 2024
Mayank Chandel |426 Answers |Ask -Follow
IIT-JEE, NEET-UG, SAT, CLAT, CA, CS Exam Expert - Answered on May 02, 2024
Mayank Chandel |426 Answers |Ask -Follow
IIT-JEE, NEET-UG, SAT, CLAT, CA, CS Exam Expert - Answered on May 02, 2024
Mayank Chandel |426 Answers |Ask -Follow
IIT-JEE, NEET-UG, SAT, CLAT, CA, CS Exam Expert - Answered on May 02, 2024
Mayank Chandel |426 Answers |Ask -Follow
IIT-JEE, NEET-UG, SAT, CLAT, CA, CS Exam Expert - Answered on May 02, 2024
Maxim Emmanuel |207 Answers |Ask -Follow
Soft Skills Trainer - Answered on May 02, 2024
Maxim Emmanuel |207 Answers |Ask -Follow
Soft Skills Trainer - Answered on May 02, 2024
Mayank Chandel |426 Answers |Ask -Follow
IIT-JEE, NEET-UG, SAT, CLAT, CA, CS Exam Expert - Answered on May 02, 2024
Maxim Emmanuel |207 Answers |Ask -Follow
Soft Skills Trainer - Answered on May 02, 2024
Mayank Chandel |426 Answers |Ask -Follow
IIT-JEE, NEET-UG, SAT, CLAT, CA, CS Exam Expert - Answered on May 02, 2024
Close