Budget 2024: CA Explains The LTCG, STCG Tax Hike Math | How Capital Gains Tax Hike Will Impact You

Budget 2024: One of the big shockers of the finance minister's union budget announcement was that long-term and short-term capital gains taxes were being raised - LTCG from 10% to 12.5, and STCG on specified assets from 15% - 20%. As per definition, any profit or gain that arises from the sale of a 'capital asset' is a capital gain. Additionally, the exemption limit for these gains has been set at ₹1.25 lakh per year. Additionally, indexation has been done away with. With all this complications, how will your investments now be taxed? Here's a roundup, with an explanation from Karan Batra, Founder, Chartered Club - watch!
#tax #taxation #budget

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[MrSatadal]

Increased LTCG limit by 25 thousand, also.increaed tax by 2.5%
Janta ko gendu samaj ta hai yeh sarkar.

[aruns]

Why are we being charged 12.5% in long-term capital gains tax? I believe the government should allow its citizens to have the opportunity to improve their financial situations. We have already paid taxes on our hard-earned money, and it seems unfair to have to pay such a high tax rate when investing in long-term mutual funds. I kindly request that this tax rate be revised to a more reasonable level.

[indra_sinha]

Now black money will increase more in real estate

[Njana-]

All our indirect and direct taxes paid by us is being used by government for their freebies and nothing in either form compensating for public. All basic provisions being made by government are again indirectly being compensated by public again. then what is happening to income tax paid by public. Politicians are enjoying with all free benefits with our money and they really not knowing the ground level issues of public. Age old exemptions, peanut rebates (which again taking back bcz of inflation and cost of living escalation etc). why is govt claiming as if the budget is for middle class people whereas nothing is given benefit to the public.

[naturemeditation]

What is fuck is modi thinking and doing but he doesn’t understand economics what is FM doing and thinking but she doesn’t know finance fundamentals what is opposition doing they dont care .... Modi losing goodwill and votes from middle class faster than Ayodhya

[nagarajbarakam]

20 % on STCG is very high. BJP will lost the favour of short term traders. But favour the land lords in real estate, because mainly politicians do real estate business and earn chores of rupees.

[neensatya]

Removal of indexation benefit is very harsh decision by government, will prove harsh for bjp in votes.... should consider roll back this decision.

[Bala-zwlk]

As a salaried person I am really afraid of BJP gov and its budget for the next five years.

[shankarbalan]

As salaried folks the savings made are saved after one has paid a high rate of direct tax. With the tax paid income the tax payer buys goods and services and has to pay a high rate of GST on all those goods and services. Now, the savings one makes on the investments which were made after paying taxes, are again subject to STCG and LTCG. This is a cruel triple whammy by the Government on normal salaried folks, the softest target they have.

Instead of all this, why not reduce the burden of direct taxes and adopt a proper GST regime on all goods and services? This way anyone who consumes anything at all, is paying tax and contributing to the country! Transaction Tax. That’s the best way forward.

After all, EVERYONE is a Consumer, but only less than 2% of the whole of India are part of the Salaried classes who are taxed inordinately!

It is about time that the GOI looks at the Middle Classes too in a favourable manner.

[manoharah]

Punishment for not giving the majority

[mandarp]

Extremely bad for markets and investors in the long term if government keeps increasing Capital Gains Tax.

[satyanarayan]

Indexation benefits is the main for LTCG. Real estate and gold is good for investors for future because lot of loopholes available 😂

[karthicc]

What the benefit govt giving back to the tax payers?
In Europian countries they give free education and hospital expenses to the citizens for collecting taxes from them.
Here in India states like AP, govt is giving 4000rs for each person who crossed age 60. Even well settled people also get the money. This is where our tax money is going.

[ajaychaudhary]

Need a party singularly for Middle class and tax payers now

[happyboy]

Nonsense budget. As usual salaried class is punished

[AjaySisodiya-btyb]

💖 FET और NVDA66K के अंतर्दृष्टि के लिए बहुत धन्यवाद। दोनों भविष्य के लिए ठोस पसंद लगते हैं 💖

[vgvg]

BJP will realize its mistake after next elections. Even core/committed BJP voters are angry with changes in capital gains tax

[akshaykayapak]

Thank you sir for the easy n crisp explaination..

[pqpqpqpqpqpqpqpqpq]

What is thw effwctive date of ltcg ? I sold a property on first wrek of April so will therr be tax as per new rule or old rule ?

[shashisharma]

It’s a lunatic budget. Everything is wrong. Our taxes are given as freebies. Whatever we save today after paying taxes is again taxed. Mr. Modi Jee, look at this calculation and ask FM to introspect the details and then decide. What you will gain by spending freebies on providing houses-Nil. But our infrastructure will suffer.