Long & Short Term Capital Gain On Gold - Impact After Budget 2024

Описание: Long Term Capital Gains (LTCG) and Short Term Capital Gains (STCG) on gold in India, both before and after the 2024 budget.

Before Budget 2024:
Long Term Capital Gains (LTCG):

Gold held for more than 3 years is considered a long-term asset.
LTCG tax on gold was 20% with indexation benefits. Indexation allows adjusting the purchase price for inflation, thereby reducing the taxable gain.
Short Term Capital Gains (STCG):

Gold held for 3 years or less is considered a short-term asset.
STCG tax on gold was calculated at the individual's applicable income tax slab rate, which could range from 0% to 30%, depending on their total income.
After Budget 2024:
The taxation on LTCG and STCG on gold has remained largely consistent with the pre-existing structure as of the 2024 budget announcement. However, it's important to note that tax policies can change with subsequent budgets or amendments to the Income Tax Act.

Key Points:

LTCG: The tax rate remains at 20% with indexation benefits for gold held for more than 3 years.
STCG: Taxed at the individual's applicable income tax slab rates for gold held for 3 years or less.
Recent Trends and Considerations:

There have been no significant changes announced specifically targeting gold in the 2024 budget.
Investors should always verify the latest tax regulations or consult a tax advisor to ensure compliance with current laws and regulations.
Understanding these tax implications is crucial for investors in gold, as it impacts the after-tax returns from their investments.

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