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    Exceptions to the Tax Slab

    Exceptions to the Tax Slab

    One must bear in mind that not all income can be taxed on slab basis. Capital gains income is an exception to this rule. Capital gains are taxed depending on the asset you own and how long you’ve had it. The holding period would determine if an asset is long term or short term. The holding period to determine nature of asset also differs for different assets. A quick glance of holding periods, nature of asset and the rate of tax for each of them is given below.

    Type of capital asset Holding period Tax rate
    House Property Holding more than 24 months – Long Term Holding less than 24 months – Short Term 20% Depends on slab rate
    Debt mutual funds Holding more than 36 months – Long Term Holding less than 36 months – Short Term 20% Depends on slab rate
    Equity mutual funds Holding more than 12 months – Long Term Holding less than 12 months – Short Term Exempt (until 31 March 2018) Gains > Rs 1 lakh taxable @ 10% 15%
    Shares (STT paid) Holding more than 12 months – Long Term Holding less than 12 months – Short Term Exempt (until 31 March 2018)Gains > Rs 1 lakh taxable @ 10% 15%
    Shares (STT unpaid) Holding more than 12 months – Long Term Holding less than 12 months – Short Term 20% As per Slab Rates
    FMPs Holding more than 36 months – Long Term Holding less than 36 months – Short Term 20% Depends on slab rate
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