The Union Budget has hiked taxes on equities trading in a bid to raise revenue, clampdown on speculative trading and encourage sticky investments. Effective July 23, the long-term capital gains (LTCG) tax on all asset classes will be 12.5 per cent from the current 10 per cent. Short term capital gains (STCG) tax has been raised to 20 per cent from 15 per cent. In 2018, the LTCG on listed equity shares was made taxable at 10 per cent.
To mitigate the blow from the increased taxes, the amount exempted from the LTCG on listed securities has been increased to ₹125,000 a year from the earlier limit of ₹100,000. The proposed changes to the capital gains tax rates in the Budget are estimated to garner an additional ₹15,000 crore to the exchequer, Revenue Secretary Sanjay Malhotra said on Tuesday.
Legal players said the higher tax will be applicable even on outstanding investments and not just on new investments, including mutual funds. However, if the gains were realised till now, then the old tax rates will be applicable.
Bu hikaye Business Standard dergisinin July 24, 2024 sayısından alınmıştır.
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Bu hikaye Business Standard dergisinin July 24, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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