Long Term Capital gain Tax on Equity
If your investment in Mutual Funds and Equity is existing for more than 1 year you would be a Taxed at 10% on the Profit earned which was 0% as of now.
The Base Year has been taken to be 31/01/2018.
Which means if you have invested INR 100 on 1st Sept, 2016 and you redeemed on 2nd April 2018 and the value on redemption date is INR 180 and the value on 31/01/2018 is Rs 150 hence you would be charged a capital gain on 180-150=30. Tax would be on Rs 30 @10%.
Short Term Capital Gain
Unchanged at 15%.
Update post Finance Bill, 2018 at a glance:
To know more about how to save income tax in 2018, click here.
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