What taxes to pay if I get 1 crore gain through the stock market in current Financial Year
This query is : Resolved
09 August 2024
Hi Experts,
I just want to understand tax implications after the recent budget changes.
If I hold stocks from past few years and and sell them in current financial year (Long term) and gain 1 crore .
My current income from other sources salary , FDs is around 54 lacs for a year.
So how will my tax be calculated on my total income ?
Thanks,
I just want to understand tax implications after the recent budget changes.
If I hold stocks from past few years and and sell them in current financial year (Long term) and gain 1 crore .
My current income from other sources salary , FDs is around 54 lacs for a year.
So how will my tax be calculated on my total income ?
Thanks,
09 August 2024
On Long term capital gains from shares investment rate is 12.5%
While for FD interest, it is as per slab rate
While for FD interest, it is as per slab rate
09 August 2024
Thanks Dhirajlal Sir.
So the 1 crore capital gain wont be considered again in my Income tax calculation (54 Lacs) and I have to only pay 12.5% for the 1 crore gain .
So the 1 crore capital gain wont be considered again in my Income tax calculation (54 Lacs) and I have to only pay 12.5% for the 1 crore gain .
09 August 2024
Yes, u/s. 112A IT act...
09 August 2024
You are welcome.
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