Nettet7. des. 2024 · Before 2024, the long term capital gains earned on equity investing was tax-free. The government has also disclosed the revenue it earned from LTCG for the assessment years 2024-19 to 2024-21. Nettet16. sep. 2024 · As the name suggests, an equity-linked savings scheme (ELSS) is a type of mutual fund that primarily invests in the stock market or equity. Investments of up to 1.5 lakhs done in ELSS schemes are eligible for tax deduction under Section 80C of the Income Tax Act. The advantage ELSS has over other tax-saving instruments is the …
What is the LTCG Tax Free Limit in India NoBroker Forum
Nettet14. jan. 2024 · 14 Jan 2024. 57,384 Views. 2 comments. No applicability of section 14A on exemption of Rs.1,00,000/- (One Lakh) Long Term Capital Gain (LTCG) under Section 112A of Income Tax Act, 1961. Section 14A shall not be applicable on LTCG income earned u/s 112A. The answer to the questions of applicability of section 14A for … Nettet19. jan. 2024 · In Budget 2024, it was announced that if the annual premium of ULIP investments is more than Rs 2.5 lakh (i.e., high value premium policies), the return earned will not be tax exempt. Now, the Central Board of Direct Taxes (CBDT) has issued a notification explaining how the capital gains on unit-linked insurance policies (ULIPs) … newhome baselland
Exemptions from paying LTCG on sale of Residential House …
Nettet17. sep. 2024 · Resident Indians aged 60 to 80 years will be exempted from LTCG tax in 2024 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. There is no tax deduction under Section 80C from … NettetTax rates on LTCG/STCG: STCG is taxable at a concessional rate of 15% on transfer of certain capital assets and with respect to LTCG, NRIs can take benefit of exemption up to 1 lakh on Indian equities and beyond that the gains will be taxable @ 10% without any indexation benefit. 3. Tax on capital gains earned by non-residents: a few ... Nettet3. aug. 2024 · Dividend received by a domestic company from a foreign company, in which such domestic company has 26% or more equity shareholding, is taxable at a rate of 15% plus Surcharge and Health and Education Cess under Section 115BBD. Such tax shall be computed on a gross basis without allowing a deduction for any expenditure. intex vista island