The Union Finance Minister recently denied making any changes to the Capital Gains Tax (CGT) structure.
About the Capital Gains Tax (CGT):
- It’s a tax on profits from selling a capital asset.
- In India, it is imposed under the Income Tax Act, 1961.
Types of CGT:
- Short-term capital gains (STCG): Asset held for up to 36 months.
- Long-term capital gains (LTCG): Asset holding period varies from more than 12 months to more than 36 months depending on asset type.
Ref: Source
| UPSC IAS Preparation Resources | |
| Current Affairs Analysis | Topperspedia |
| GS Shots | Simply Explained |
| Daily Flash Cards | Daily Quiz |