WebApr 14, 2024 · Let us now discuss Equity LTCG Tax with grandfathering with a video. The idea is to understand the concept of grandfathering without any math in a visual way so that we can sell at appropriate times … WebMar 16, 2024 · The finance bill has proposed to tax LTCG exceeding Rs one lakh on sale of listed equity share and unit of an equity-oriented fund at 10% (without indexation) with …
How grandfathering of LTCG from equities would work
WebGrandfathering provision - The gains accruing as on 31 January 2024 have been grandfathered. This is done by introducing a deeming provision in the law whereby cost of acquisition of the security would be considered to be higher of the actual cost or the fair market value of the security on 31 January 2024. WebJun 7, 2024 · Long Term Capital Gain = Sales Value – Cost of Acquisition (as per grandfathering rule) – Transfer Expenses Tax Liability = 10% (LTCG – INR 1 lac) … photography exhibits seattle
LTCG Tax Calculation: How proposed tax on LTCG will be …
WebFeb 6, 2024 · In Budget 2024, the grandfathering rule was announced u/s 112A which implies that - long term capital gains above INR 1 Lakh will be taxed at 10% after 1st Feb 2024. Therefore to calculate LTCG: Take the equity value as on 31st Jan 2024 to be X; so LTCG = Sales price - value as on 31st Jan 2024; LTCG = 1,80,000 - X WebFeb 14, 2024 · The income tax department has issued FAQs on the proposed tax on long-term capital gains (LTCG) last week. Along with answering questions on how long-term capital gains will be calculated, the FAQs also touch upon how rights and bonus issue shares will be taxed from April 1. According to the FAQs released by the department, the … WebJun 7, 2024 · The concept of grandfathering in the case of LTCG on sale of equity investments is a method of determining the Cost of Acquisition (COA) of such investments. The COA of such investments acquired by … photography evf