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Capital gains tax.
Shares, mutual funds, gold and property are taxed differently depending on how long you held them. Put in what you paid and what you got, and see what you owe.
What I sold
After brokerage and transfer costs.
Long term after 12 months for this kind of asset.
The first ₹1,25,000 of long-term equity gains a year are tax free, across everything you sell.
Long-term gain. Tax due
₹22,750
₹1,75,000 taxed at 12.5% plus 4% cess. You keep ₹2,77,250 of the ₹3,00,000 gain.
- Gain
- ₹3,00,000
- Tax-free part
- ₹1,25,000
- Taxed at
- 12.5%
- Tax with cess
- ₹22,750
- You keep
- ₹2,77,250
How it adds up
- You sold for₹8,00,000
- minusYou paid₹5,00,000
- equalsLong-term gain₹3,00,000
- minusTax-free part₹1,25,000
- times12.5% plus 4% cess₹22,750
What this assumes
Rates for sales from 23 July 2024: equity long term after 12 months at 12.5% above ₹1.25 lakh a year, 20% if sooner; property, gold and other assets long term after 24 months at 12.5% without indexation, your slab if sooner. Adds 4% cess, leaves out surcharge. Debt funds bought after April 2023 are taxed at your slab however long you hold them. Land or buildings bought before 23 July 2024 can choose 20% with indexation instead, which this does not show.
Rules and rates from
Education only, not investment, tax or legal advice. I am not a SEBI-registered investment adviser.
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