We have to pay Indian Government 12.5% Long Term Capital Gain Tax over and above 1.25 Lakhs from 2024. Now as a Salaried Individual we are paying so many direct and indirect taxes and after investing too we have to pay the tax.
But there is an option to pay less tax and that is after doing Tax Profit Harvesting. You can view the above video to know more about it. In Simple terms we will be booking profit every year upto 1.25 lakhs to save the 10% tax. For example you have created a goal for 15 years. For the first year you gain around 50K. You will book the profit of 50K and reinvest that amount.
For government, it will look like you have booked 50K profit and thus you don't have to pay 10% taxes. Now after 5 years say your total gain is around 10 Lakhs. Now redeeming everything doesn't make sense, but we will redeem 1.25 Lakhs to save 12.5K fron the future years, and reinvest that amount so that compounding will also not affected. The whole process is called the Tax Profit Harvesting. It doesn't save whole taxes but you can save some taxes and something is better than nothing.
Whatever you are saving is actually your earning. I try to redeem the amount from my profit so that I stay below the taxable amount and also doing the compounding for teh future. And this process is totally legal and there will be no problem as such. It's a great way to save some taxes which can become a good amount for the future.
Let me know if you know this trick, or for the first time you are hearing it. Whet do you think, can you save a lot of taxe using this strategy. Let me know in comments, you cab also comment on the YouTube Video directly.
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