What is the tax rate on profit invested on investment in equity in india??What is IIP?
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Answer:
If you held those equities for at least 365 days from the date of purchase and then sold it through a regular stock exchange and broker by paying the Securities Transaction Tax, then, the capital gains are termed long term and the entire gains are free of tax. If you held them for less than 365 days, then, a flat rate of tax of 15.45% will be charged on the net gains for the whfole financial year. IIP is Index of Industrial Production.
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