TAX ON INVESTMENT
HOW TO REDUCE TAX ON INVESTMENTS
Published By Livemint | 26 Mar, 2023
INVESTMENTS
Other than income & business, people have to pay taxes on investments
Credit : Pexels
SAVING TAX
Know how to manage investments and liability to save tax
Credit : Pexels
WHAT IS TAX HARVESTING?
By selling off losing stock investments/mutual funds, one can offset gains & reduce tax liability
Credit : Pixabay
CAPITAL ASSETS
Investment assets like land, house, stocks, jewellery, property, etc
Credit : Pixabay
CAPITAL GAINS TAX IN INDIA
Applicable on the profit made from the sale of a capital asset
Credit : Pixabay
CAPITAL GAINS TAX TYPES
Applied as long-term capital gains tax and short-term capital gains tax
Credit : Pixabay
LONG TERM CAPITAL GAINS TAX
Applied on investment sold after a year and for an amount more than 1 lakh
Credit : Pixabay
SHORT TERM CAPITAL GAINS TAX
Applicable on investments sold within 1 year, have to pay 15% of the profit as STCG
Credit : Pixabay
HOW TO REDUCE LTCG?
Sell profit-making stocks before the amount exceeds 1 lakh
Credit : Pexels
TAX HARVESTING
Sell the loss-making stock. Deduct loss from the profit booked from another stock to reduce taxable gains
Credit : Pexels
STCG LOSSES
STCG losses can also be used for tax harvesting in STCG as well as LTCG
Credit : Pexels
CLICK FOR MORE VISUAL STORIES