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Income from capital gains is classified as “short term capital gains” and “long term capital gains”. Long term capital gains (ltcg) arise from sale of capital assets like stocks, properties etc., held for a period of more than 24 months. Learn how to calculate your capital gains tax, and discover strategies to reduce what you owe.
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The tax code can change, so you should check with the irs for the. Gain arising on transfer of capital asset is charged to tax under the head “capital gains”. These gains are often taxed at lower rates.
The tax rate on long term capital gains is 12.5% for.
