Asset & Transaction Details
Asset type, purchase & sale values
₹8 L

Equity/MF: LTCG = held >12 months · Property/Gold: LTCG = held >24 months (property), >36 months (gold)

Based on Budget 2024 rates (effective July 23, 2024). Verify with a tax advisor.

Capital Gains Tax
Tax on capital gains

Capital Gains Tax Rates — Budget 2024

Asset Type Hold Period LTCG Rate STCG Rate
Equity shares >12 months 12.5%* 20%
Equity MF (65%+) >12 months 12.5%* 20%
Debt MF >24 months Slab rate Slab rate
Property >24 months 12.5%† Slab rate
Gold / jewellery >36 months 12.5% Slab rate
Unlisted shares >24 months 12.5% Slab rate
* ₹1.25 lakh exemption per year on equity LTCG
† No indexation for property purchased after 23 July 2024
For pre-July 2024 property: choose 12.5% without indexation
OR 20% with indexation (whichever is lower)

Surcharge on LTCG on equity/equity MF: capped at 15%
Health & Education Cess: 4% on (tax + surcharge)

Budget 2024 changes (effective 23 July 2024):
LTCG equity: 10% → 12.5%
STCG equity: 15% → 20%
LTCG exemption: ₹1L → ₹1.25L
Indexation for property: REMOVED for new purchases

Section 54 / 54F Exemption

Capital gains from property sale can be exempted under Section 54 by investing in another residential property within 2 years (1 year if you sell the property, 3 years if you construct). Under Section 54EC, invest LTCG in NHAI/REC bonds within 6 months (up to ₹50L exemption). Section 54F applies when selling any long-term asset (other than a house) and buying a residential house.

FAQs

Can I set off capital losses against gains?
Yes, with restrictions. Short-term capital losses can be set off against both STCG and LTCG. Long-term capital losses can only be set off against LTCG (not STCG). Unabsorbed capital losses can be carried forward for up to 8 assessment years, but you must file your ITR within the due date to carry forward losses.
How is LTCG on equity calculated if I bought shares before January 31, 2018?
For equity shares bought before 31 January 2018, the cost of acquisition is calculated using the "grandfathering" provision: the higher of (a) actual purchase price, or (b) the fair market value (closing price) on 31 January 2018. This means gains up to the January 31, 2018 price are locked in tax-free, even under the new 12.5% LTCG regime.