Iceberg Tax: Impact on LTCG will be more than 10 per cent

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Gives a short perspective on how to save on Long term capital gains tax.

By Dhirendra Kumar

From a personal savings and investment perspective, the restoration of long-term capital gains tax on equity income is a huge change.

From February 1 onwards, selling stocks or equity mutual funds that you have held for the long term will mean paying taxes on gains accrued since the market closing of January 31. If, in a year, you realise more than Rs 1 lakh of such gains, then 10.04% of that (including cess) has to be paid as tax.

So far, so good. You might resent this tax or you may console yourself that it's at least a lot less than the 30% income tax slab you are on. If that's what you think, you may be getting ahead of yourself.

This tax could cost you a lot more than 10%. Even though the government will get 10% of your returns, you could ac

 

Read Original :Iceberg Tax: Impact on LTCG will be more than 10 per cent

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