How does long term capital gains tax work?

[Levi]

I want a clear explanation of long term capital gains tax, including tax rates, holding period rules, and ways to reduce the tax legally.

 

[Oscar]

Long-term capital gains tax applies to profits from assets held beyond a specified period. Gains are taxed at concessional rates, often with indexation benefits, depending on asset type and tax laws.

 

[Peter]

Long-term capital gains tax is charged on profit earned from selling an asset after holding it for a long period, usually more than one year for shares and equity mutual funds in India. It is taxed at a lower rate than short-term gains, and some assets get benefits like indexation or tax-free limits.