Budget 2023: Long term capital gains tax likely to be rationalised
Budget 2023:The government may look at rationalising long term capital gains (LTCG) tax structure in the forthcoming Union Budget for 2023-24.
Budget 2023: The government may look at rationalising long term capital gains (LTCG) tax structure in the forthcoming Union Budget for 2023-24. As of now, shares held for more than one year attract a 10 per cent LTCG tax. This tax was discontinued in 2005, but was reintroduced in 2018 in the Union Budget for that fiscal.
The Finance Ministry is learnt to be looking at ensuring parity between similar asset classes by rationalising the LTCG tax structure and even revising the base year for computing inflation adjusted capital gains, sources aware of developments said.
Gains from sale of immovable property and unlisted shares which have been held for more than two years, attract 20 per cent LTCG. Government may look at rationalising tax rates and also the holding period for calculating LTCG in the forthcoming budget, sources added.
Click Here For Latest Updates On Stock Market | Zee Business Live
Also, read- Budget 2023: How does India earn? What is the math behind it?
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Senior Citizen Latest FD Rates: Know what major banks like SBI, PNB, Canara Bank, HDFC Bank, ICICI Bank are providing on fixed deposits
Gratuity Calculator: Rs 38,000 as last-drawn basic salary, 5 years and 5 months of service; what will be gratuity amount?
Top 5 Small Cap Mutual Funds with best SIP returns in 1 year: See how Rs 25,000 monthly investment has grown in each scheme
Top 7 SBI Mutual Funds With Best SIP Returns in 1 Year: Rs 25,000 monthly SIP investment in No.1 fund has jumped to Rs 3,58,404
12:20 PM IST