When you invest your money for a longer period of time and get returns on the, they are known as Long term capital gains. The profits generated in this case are taxed on the basis of tax rates set for LTCG. The tax levied on these profits are called long term capital gains tax. Now that you know what is long term capital gains tax, let us look at what qualifies as long term capital gains.
Long term capital gains include:
Property sale
Agricultural land sale
Mutual funds investment
Stocks and bonds
Long term capital gains on sale of property can be considered as such if the holding period is for 3 years or more. In case of stocks or shares the limit of holding period is set at 1 year.
What is long term capital gains tax rate?The long term capital gains tax rate is fixed at 10% over and above Rs. 1 lakh in case of sale of equity-oriented funds. If a property is sold, the LTCG tax rate is set at 20%.
I hope this helps you know all about long term capital gains tax.
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What is Long Term Capital Gains Tax?
Swati
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2022-02-28T12:52:36+00:00 2022-02-28T12:52:37+00:00Comment
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