There is increase in STCG and LTCG - what will be effective date?

Taxation
1

IN recent budget there was stcg to 20%
so if I sell stocks today and have STCG - it will be charged at 20% when I file return for this FY ? also same question for LTCG where indexation benefit will go

To be specific - I have LIC shares that I bought during Jan 2024 so if I sell it now - what rate will apply 20% or 15% ? I know current rate is 20% but when I bought that - I was in impression that stcg is 15%

@Quicko

2

The change is applicable since the day of the budget, so if you sell it right now you will have to pay 20% STCG unfortunately :cry:

3

Hi @curiousvi,

The tax rate will depend on when the shares are being sold. If these are being sold after 23rd July 2024, the STCG will be taxed at 20% and the LTCG will be taxed at 12.5%.