Income Tax
LTCG (Long-Term Capital Gains)
Capital gains on assets held for more than the specified holding period — taxed at concessional rates.
Full Definition
Long-Term Capital Gains (LTCG) arise from the sale of a capital asset held beyond the specified holding period. Holding period thresholds: listed equity shares/equity MF = 12 months; immovable property/unlisted shares/gold = 24 months; bonds = 12 months (listed). LTCG tax rates post-Budget 2024: equity shares and equity MF = 12.5% (gains above ₹1.25L exempt); property = 12.5% without indexation (or 20% with indexation for pre-July 2024 purchases); unlisted shares = 12.5%.
Related terms
More Income Tax terms
ITR (Income Tax Return)
Annual declaration filed with India's Income Tax Department reporting income, deductions and tax paid.
AY (Assessment Year)
The year in which income earned in the previous financial year is assessed and taxed.
FY (Financial Year)
The 12-month period from April 1 to March 31 during which income is earned and recorded.
PAN (Permanent Account Number)
Unique 10-character alphanumeric identifier issued by the Income Tax Department to every taxpayer.
TAN (Tax Deduction Account Number)
10-character number required by entities that deduct or collect tax at source (TDS/TCS).