Long-Term Capital Gains Tax Rates 2024
In 2024, long-term capital gains tax rates vary based on income and filing status, ranging from 0% to 20%. The longer you hold assets like stocks or property, the lower your tax rate may be.
by S Samayanka
Updated Apr 22, 2024
Article continues below advertisement
On This Page
Long-Term Capital Gains Tax
Long-term capital gains are income earned from selling certain investments or assets that you have held onto for more than a year.
Gains on the sale of assets, such as gold, land, or even shares, are taxed at a special rate instead of the slab rate when they are held for a longer period of time. The term "LTCG tax" refers to this particular rate.
Long-Term Capital Gains Tax Rates 2024
The provisions relating to the Long-Term capital gains are given as follows:
- Shares & Equity Funds:
- Holding Period: 12 months or more.
- LTCG Tax Rate: 10%.
- Conditions: capital gains exceeding ₹1 lakh in a year.
- Indexation Benefit: Not applicable.
- Unlisted Shares:
- Holding Period: 24 months or more.
- LTCG Tax Rate: 10%.
- Conditions: capital gains exceeding ₹1 lakh in a year.
- Indexation Benefit: Not applicable.
- Debt Securities:
- Holding Period: Not specified.
- LTCG Tax Rate: Phased out; now subject to income tax as per slab rate.
- Gold and Jewellery:
- Holding Period: 36 months or more.
- LTCG Tax Rate: 20%.
- Indexation Benefit: Available.
- Land and Building:
- Holding Period: 24 months or more.
- LTCG Tax Rate: 20%.
- Indexation Benefit: Available.
Long-Term Capital Gains Tax Rates 2024 in the U.S
The Long-Term Capital Gains Tax Rates in 2024:
|
Filing Status |
0% Rate |
15% Rate |
20% Rate |
|
Single |
Up to $47,025 |
$47,026 – $518,900 |
Over $518,900 |
|
Married filing jointly |
Up to $94,050 |
$94,051 – $583,750 |
Over $583,750 |
|
Married filing separately |
Up to $47,025 |
$47,026 – $291,850 |
Over $291,850 |
|
Head of household |
Up to $63,000 |
$63,001 – $551,350 |
Over $551,350 |
The Long-Term Capital Gains Tax Rates 2023:
|
Filing Status |
0% Rate |
15% Rate |
20% Rate |
|
Single |
Up to $44,625 |
$44,626 – $492,300 |
Over $492,300 |
|
Married filing jointly |
Up to $89,250 |
$89,251 – $553,850 |
Over $553,850 |
|
Married filing separately |
Up to $44,625 |
$44,626 – $276,900 |
Over $276,900 |
|
Head of household |
Up to $59,750 |
$59,751 – $523,050 |
Over $523,050 |
Difference Between Short-term and Long-term Capital Gains
|
Aspect |
Short-Term Capital Gains |
Long-Term Capital Gains |
|
Holding Period |
Ownership of asset for one year or less |
Ownership of assets for more than one year |
|
Tax Treatment |
Taxed as ordinary income, subject to marginal tax brackets |
Taxed at rates of 0%, 15%, or 20% (depending on income level) |
|
Tax Rate |
Subject to ordinary income tax rates, up to 37% |
Generally taxed at lower rates, usually 15% or less |
|
Asset Types |
Stocks, bonds, precious metals, jewellery, real estate, etc. |
Same as short-term, including stocks, bonds, precious metals, etc. |
|
Tax Calculation Basis |
Based on adjusted basis of the asset and marginal tax brackets |
Based on graduated income threshold |
Related Articles
DPT-3 Due Date, Fees, Applicability and more
99 days ago
Long-Term Capital Gains Tax Rates 2024 - FAQs
1. What are long-term capital gains?
Income earned from selling assets held for over a year.
2. How are long-term capital gains taxed?
Special rates based on filing status and income level.
3. What is the long-term capital gains tax rate in 2024?
The rates are 0%, 15%, or 20%, depending on income and filing status.
4. What happened to the long-term capital gains tax on debt securities?
It is phased out and is now subject to income tax as per slab rates.
Disclaimer : The above information is for general informational purposes only. All information on the Site is provided in good faith, however we make no representation or warranty of any kind, express or implied, regarding the accuracy, adequacy, validity, reliability, availability or completeness of any information on the Site.