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LTCG Clarification for Individual

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TaxDoubter

33 Points Posted on 02 February 2022

My Gross Income is less than 1 lakh (including Saving A/c Interest, Annuity Pension etc) and I am NOT a senior citizen. I would like to sell my shares which I have been holding for a long time (more than 5-10 years).

My question is, If I sell shares and make a profit of 5-10 lakhs range, how much will i have to pay tax or how to calculate the tax on LTCG?

Is there a better way to sell shares and still not required to pay tax?

Thanks in advance for the suggestions.

Replies (3)

Quick Summary

This discussion clarifies Long Term Capital Gains (LTCG) tax for individuals holding shares for over a year. The user, with a gross income under £1 lakh, seeks to understand how to calculate tax on profits ranging from £5-10 lakhs from selling long-held shares. Advice suggests selling shares with profits up to £1 lakh annually to utilise the tax exemption under section 112A, thereby avoiding tax.