Anil Kumar Singh (51 Points)
02 March 2021
debora M
(BUSINESS DEVELOPMENT MANAGER)
(1697 Points)
Replied 05 August 2021
A long-term capital gain or loss is the gain or loss stemming from the sale of a qualifying investment that has been owned for longer than 12 months at the time of sale. This may be contrasted with short-term gains or losses on investments that are disposed of in less than 12 months time.
Long-term capital gains tax rates for the 2021 tax year
In 2021, individual filers won't pay any capital gains tax if their total taxable income is $40,400 or less. The rate jumps to 15 percent on capital gains, if their income is $40,401 to $445,850. Above that income level the rate climbs to 20 percent
Anil Kumar Singh
(51 Points)
Replied 02 August 2023
25 Hours GST Scrutiny of Return and Notice Handling(With Recording)
CAclubindia
