Stcg tax rate: The stcg budget 2024

The stcg budget 2024, presented as the Finance (No.2) Bill 2024, introduced significant capital gains tax changes in India for 2024, especially for short term capital gains. These new stcg rates and rules, announced by Finance Minister Nirmala Sitharaman and the Ministry of Finance, became effective for transfers made on or after July 23, 2024. A key change involves the tax rate for STCG under Section 111A of the Income Tax Act. This section typically applies to gains from selling listed ... Section 111A of the Income Tax Act covers STCG on equity shares and mutual funds. Learn how short-term capital gains are taxed and how to calculate liability. When securities transaction tax (STT) applies, STCG is taxed at a rate of 15% to 20% under Section 111A of the Income Tax Act. This tax structure helps simplify the taxation process for investors in the stock market and mutual funds. Short-Term Capital Gains Tax Rate for FY 2024-25 Short Term Capital Gains Tax on Equity & Non-Equity Assets , such as equity mutual funds and individual stocks, are subject to a flat short-term capital gains ( STCG) tax rate of 20% if held for less than 12 months. Regardless of your overall income bracket, any profits earned from selling these assets within a year will be taxed at this fixed rate . For instance, if you sell equity shares after 9 months and profit from Rs. 50,000, you will owe an STCG tax of Rs. 10,000 (20% of Rs. 50,000 ...