What taxes to pay if I get 1 crore gain through the stock market in current Financial Year

This query is : Resolved

D M (Querist)
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09 August 2024 Hi Experts,
I just want to understand tax implications after the recent budget changes.

If I hold stocks from past few years and and sell them in current financial year (Long term) and gain 1 crore .

My current income from other sources salary , FDs is around 54 lacs for a year.

So how will my tax be calculated on my total income ?

Thanks,

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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09 August 2024 On Long term capital gains from shares investment rate is 12.5%
While for FD interest, it is as per slab rate

D M

D M (Querist)
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09 August 2024 Thanks Dhirajlal Sir.

So the 1 crore capital gain wont be considered again in my Income tax calculation (54 Lacs) and I have to only pay 12.5% for the 1 crore gain .

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Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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09 August 2024 Yes, u/s. 112A IT act...

D M

D M (Querist)
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09 August 2024 Thank you Sir for prompt reply as always

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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09 August 2024 You are welcome.