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Quick Summary
Long-term capital gain is the profit from selling an asset held for more than 36 months (reduced to 24 months for real estate after March 31, 2017). Important Update Finance Minister Nirmala Sitharaman introduced amendments to the Finance Bill for 2024-25 on 6th August. The amendments w
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FAQ :
A long-term capital gain is the profit made from selling an asset that has been held for more than 36 months, or 24 months for real estate acquired after March 31, 2017.
The indexation benefit for long-term capital gains on property, gold, and unlisted assets will be removed from July 23, 2024.
The proposed new long-term capital gains tax rate will be 12.5% for all assets.
The indexation benefit for LTCG on real estate is only available to resident individuals. It does not apply to companies, LLPs, firms, or Non-Resident Indians (NRIs).
No, the indexation benefit applies only to gains and cannot be used to offset or carry forward losses.
The exemption limit for long-term capital gains (LTCG) on listed shares and units under Section 112A has been increased from ₹1 lakh to ₹1.25 lakh.
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