Capital Gains Tax 2024/5 5 Lakhs

Capital Gains Tax 2024/5 5 Lakhs. Capital gains rates for individual increase to 15% for those individuals with income of $44,626 and more ($89,251 for married filing joint, $44,626 for married filing separate,. Capital gains tax is a tax on the profit when you sell (or ‘dispose of’) something (an ‘asset’) that’s increased in value.

The type of asset sold. For the 2024 to 2025 tax year the allowance is £3,000, which leaves £9,600 to pay tax on.