long term capital gains tax |
Posted: January 19, 2022 |
Why it is important to save tax on long term capital gains?Long term capital gains are chargeable to income tax @ 20%. There is no minimum exemption limit prescribed so the entire amount of capital gains will qualify for the taxable income. Hence if long term capital gains on sale of a building figures out to be ?60,00,000, a whooping ?12,36,000 is payable as tax. To save the huge tax, it becomes important to invest the amount of long term capital gains.
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