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Here's How To Save Capital Gains Tax
Outlook Money
|October 2024
In India, capital gains tax is charged on profits gained from the sale of assets, such as stocks, bonds, real estate and other investments.
It is applicable to both people and enterprises. The longterm capital gains (LTCG) exemption limit for transferring equity shares or equity-oriented units has risen from ₹1 lakh to ₹1.25 lakh, and the tax rate on gains from other assets has been reduced from 20 per cent to 12.5 per cent. If you made LTCG this year and want to reduce your tax burden, you could consider a variety of tax-saving strategies. By utilising some of these strategies, you can manage your tax responsibilities and boost your investment returns in the long run.
1 Tax-Loss Harvesting:
This story is from the October 2024 edition of Outlook Money.
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