Long-term capital gains tax on property is 20% + surcharge rate + 4% along with indexationĬalculation of Tax on Short term and Long term gain from sale of assets Short term Gain/Loss.Short-term capital gains tax on gold silver jewellery is charged at normal slab rates.Long-term capital gains tax on gold silver jewellery is 20% + surcharge rate + 4% along with indexation.* Applicable only for the shares sold through the stock exchanges in India on which a security transaction tax (STT) has been paid. (Tax rates mentioned above are excluding surcharge at 10% on income between Rs 50 lakh and Rs 1 crore and at 15% on income above Rs 1 crore) More than Rs 1 lakhs -10% without indexation. Tax Rate Chart for Income on Sale of Assets Asset based on the duration for which they are held. Now, let’s analyse the tax rate applicable to income from these assets such as property, gold, jewellery, shares, etc. In the case of listed shares and equity-oriented mutual funds, long-term capital gain arises if they are sold after holding it for one year only and short-term capital gain if sold within one year. However, the classification of long-term and short-term capital gain is different in case of shares/mutual funds. For instance, if you sell a house within 24 months of acquiring it, then profit arising will be termed as STCG. If the asset is sold within a certain holding period from its acquisition, then it is called a short-term capital gain (STCG). If you sell the asset after holding it for more than 12/24/36 months(variess from asset to asset- see table below), then the profit arising on sale will be termed as LTCG. Capital Gains are divided into two categories: Long term Capital Gain Profit or gain arising from sale of assets such as property, gold, jewellery or shares is called a capital gain. Tax liability on Sale of property, shares, jewellery depends on the holding period of the asset and is calculated under the head ‘Capital Gains’. And so one must be aware of tax implications on the gain/loss arising from the sale of such assets. Every individual owns some asset be it in the form of any property, gold, jewellery or shares.
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