How to pay ZERO tax🤫
People like us who are active retail investors eventually make exponential gains in the stock market🤔
Even if you start small but regular, your profit can eventually climb up to Rs. 1 lakh in a few years!👀
Isn’t that AMAZING?
But, there is a catch. If you make more than 1 Lakh rupees in the stock market as profits, you get taxed. So you get taxed at 10% per annum if your profit is higher than Rs. 1 Lakh🤭
Is there a way to save this tax?
Well, there is! It’s called TAX HARVESTING!
So, what you have to do is at the end of the year if your profit is more than Rs. 1 Lakh, you sell all of it and buy it again immediately.
This will take your net gains down from >1 Lakh to Zero. Hence, you won’t have to pay the tax WHILE keeping your investments INTACT!
Now, that is amazing!
This tip was inspired by Sharan Hegde’s and CA Kushal Lodha’s reel. Check it out here