Quick Summary
The NDA government has reported a significant increase in revenue from long-term capital gains (LTCG) tax on listed equities, with collections reaching Rs 98,681 crore for the fiscal year 2022-23. This marks a notable 15% growth compared to the Rs 86,075 crore collected in the previous fiscal year,
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FAQ :
The government earned approximately £98,681 crore from long-term capital gains tax on listed equities in the fiscal year 2022-23.
There was a notable 15% growth in capital gains tax revenue from listed equities, increasing from £86,075 crore in 2021-22 to £98,681 crore in 2022-23.
Capital gains tax on equities and equity-oriented mutual funds was implemented in April 2018, with an initial tax rate of 10% on gains exceeding £1 lakh annually.
Recent changes include a uniform 12.5% LTCG tax rate for all asset classes, an increased STCG tax rate on equity investments to 20%, a higher tax-free limit of £1.25 lakh for LTCG on equities, and the elimination of the indexation benefit.
The holding period for listed securities to qualify as long-term investments has been extended from 12 months to 24 months.
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