Yes, they definitely are taxable.
If you are new to the concept of capital gains and taxation on capital gains then let me help you out. The capital gains are gains or income acquired via capital gain assets like equity, bonds, shares, property, jewellery, etc.
Now that you are aware of capital gains, have a look at what are short term capital gains and long term capital gains here.
“Is LTCG tax free?”No, but there are tax exemptions in some cases. The exemptions are as follows:
Indians aged 80 years or above are exempted if their annual income is below Rs. 500000.
Indians aged 60 to 80 years are exempted from LTCG tax in 2021 if they earn Rs. 300000 annually.
Limit for tax free LTCG for individuals of 60 years or younger is set at Rs. 250000 per annum
LTCG tax free limit for HUF is when the annual income is upto Rs. 250000
Alright so now you know about LTCG, the tax rate for the same is 20% on profit, i.e., Long term capital gain.
I hope now all your doubts related to is long term capital gain taxable, how much LTCG is tax free in India, etc. are clear.
You may find these interesting What is Limit for LTCG to be tax free How to calculate LTCG on sale of propertyYour Feedback Matters! How was this Answer?
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Authors Of The Question
Is long term capital gain taxable?
Hitesh
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3 Year
2021-10-26T14:17:56+00:00 2021-10-26T20:14:34+00:00Comment
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