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This is where Tax harvesting loophole comes into play! One can avoid the 10% tax over Long term capital gains by Selling and Reinvesting same amount of money before it reaches the limit of 1Lakh in a financial year (Zero tax levied under 1L LTCG)
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This is my first post here in deepslash and I'm very excited to share my ideas on finacial investing,IT,Personal development etc.
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Sivachandran✨
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Let's take an example if you had bought stocks worth of 50000 on Jan 2021 and they hit new high of worth 1,40,000 in Jan 2022, now all you have to do is to sell the stocks on same day and buy them again (like intraday trading) so that you were able to avoid tax since it didn't exceed limit of 1 L...
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One of the important term to avoid in wealth creation over Long term is "Tax" that too in country like India where you are taxed for 10% even after holding Equity stocks over a year or so
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This loop helps only with Long term capital gains usually 1 or more year for equity stocks and 3+ years for mutual funds
Also reinvesting same amount money within certain period to stocks or funds only will help or else you may lose other benefits like dividends/compounding factors in mutua...
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