Govt mopped up Rs. 98,681 crore in FY23 from LTCG tax

September 17, 2024 admin 0 Comments Budget 2024-25, capital gains growth, equity tax, Finance Ministry, India tax, listed equities, long term capital gains, LTCG tax, Mutual funds, Pankaj Chaudhary, Rajya Sabha

The government has garnered Rs 98,681 crore from long term capital gains tax on listed equities in 2022-23, a 15 per cent growth over the previous year, Parliament was informed.

Minister of State for Finance Pankaj Chaudhary gave details of collections from Long Term Capital Gains (LTCG) tax between fiscal 2018-19 and 2022-23 in the Rajya Sabha.

The long term capital gains on equities and units of equity oriented mutual funds were brought in from April 2018. Such gains were taxed at 10 per cent, with gains of up to Rs 1 lakh annually being exempted.

The Budget for 2024-25, announced on July 23, hiked LTCG tax on equities and equity oriented mutual funds to 12.5 per cent, from 10 per cent.