Tax Loss Harvesting Explained: Share Market की कमाई पर कैसे भरे Zero Tax? Sharad Kohli| GoodReturns

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ITR Filing: फाइनेंशियल ईयर( FY24-25) खत्म होने वाला है. ऐसे में टैक्सपेयर्स के टैक्स बचाने और प्लानिंग की कवायद शुरू हो जाती है. आप भी टैक्स में अपने लाखों रुपए बचा सकते हैं. कैसे? देखिए GoodReturns की Editor Bhawna और Tax Expert Sharad Kohli के साथ स्पेशल एपिसोड. इस एपिसोड में आपको मिलेंगे इन सवालों के जवाब-    #taxharvesting #taxlossharvesting #ITR #IncomeTaxReturn #IncomeTax #Tax #LTA #LeaveTravelAllowance #LTAClaim #goodreturns #businessnews #personalfinance #investment #taxplanning #taxsaving #savetax #ITRFiling #ITRFile #Form16 #NewTaxRegime #OldTaxRegime #CapitalGainTax #LongTermCapitalGain #ShortTermCapitalGain #ShareMarket #TaxSavingTips #FilingITR #ITRFilingFY24 #31March #FinancialYear #CA #TaxExpert #SharadKohli  Also Read  Taxpayers Alert! Last Date To Claim Tax Rebate Under Section 87A; Eligibility, Benefits, And How To Claim? :: https://www.goodreturns.in/personal-finance/taxpayers-alert-last-date-to-claim-tax-rebate-under-section-87a-eligibility-benefits-how-to-claim-1399227.html?ref=DMDesc  Good News For Taxpayers! Now, You Can Claim Tax Rebate Under Section 87A; Eligibility, Benefits, How To Claim? :: https://www.goodreturns.in/personal-finance/good-news-for-taxpayers-you-can-claim-tax-rebate-under-section-87a-eligibility-benefits-how-to-claim-1397147.html?ref=DMDesc  Income Tax Rule Changes In January: Deadline For Filing Belated ITR Extended; Know Penalty, How To File Online :: https://www.goodreturns.in/classroom/income-tax-rule-changes-january-deadline-for-filing-belated-itr-extended-penalty-how-to-file-online-1397133.html?ref=DMDesc    ~PR.147~HT.408~ED.70~GR.124~

Transcript

00:00Let's talk about the tax on the profit made from your investment, which includes the long-term capital gain tax and the short-term capital gain tax.

00:15If you are also incurring a loss, you can also make a profit from the loss-making share.

00:20How? We will understand that from Sharad ji.

00:23Sharad ji, there is a term called tax loss harvesting and tax gain harvesting.

00:27We would like to know in detail about this.

00:30What is it? When should it be used?

00:33Who can use it?

00:35How beneficial is it? What benefits can it bring?

00:40Tax harvesting means that before 31st March, if you earn from investment,

00:46suppose, tax harvesting is normally counted in equity shares.

00:50Equity shares means that suppose you have an income from equity shares and you are making a profit from those shares.

00:57Or suppose there are some shares where there is a loss.

01:01Now a days, the market has fallen a lot from 26,000 to 227,000.

01:05The market has recovered for 3-4-5 days.

01:08Even now, it is low from that peak.

01:10Suppose, you are sleeping.

01:11I meet a lot of investors who say that they are facing a loss.

01:14So, what you should do is that you should book your loss.

01:18After booking the loss, even if you enter again after 1st April,

01:22what will happen is that by booking the loss, you will face a long term capital loss.

01:25You can adjust the loss or you can carry forward the loss.

01:28And if you are making a profit, then also you can do tax harvesting.

01:32Then what you should do is that you should book the profit.

01:35There is a provision of harvesting in section 112k up to 1.25 lakhs.

01:40That means you get a tax exemption of 1.25 lakhs against the gains of equity shares.

01:47So, book your profit.

01:48Because you will not get a tax exemption until you book it.

01:51And if you want to keep that share for a long time, then you should buy it again.

01:56You should sell it for a time and re-enter it.

01:59By selling it, I don't mean that you should sell your investments because you want to do tax harvesting.

02:06It doesn't mean that.

02:08It means that you should sell it and use the benefit of 1.25 lakhs and re-enter it.

02:15This is called tax harvesting for both loss making and profit making.

02:19Mostly, the concept of tax harvesting applies to the people who have invested in equity shares.

02:29So, we have understood tax loss harvesting and tax gain harvesting.

02:33Now, I would like to ask you a small question.

02:35Can we adjust the short term in the long term and the long term in the short term through this harvesting?

02:43The short term can be adjusted against the long term.

02:46But, the long term cannot be adjusted against the short term.

02:48So, you should keep this in mind.

02:49You can take advantage of the losses in two ways.

02:52First, you can set it off.

02:54Second, you can carry it forward.

02:56For the next 8 years, if you don't have enough profit to adjust all your losses,

03:03then you can take it forward and set it off against the coming profits for the next 8 years.

03:10So, this is the short term rule.

03:12Mostly, this rule applies when you sell equity or security.

03:17Or, if you have a loss by selling a house or property, especially a residential property,

03:23then you can use it in this way.

03:28You talked about carrying forward your losses.

03:31I have a question related to this.

03:33Can you explain a little bit about how to carry forward your losses?

03:37Who can do it? How can it be done?

03:39How long does it take to carry forward your losses?

03:48When you file your return, the loss will come out at that time.

03:53When you calculate the return, if there is a loss,

03:56I will explain it to you.

03:58You can see that your loss was set off against the profit.

04:02Even after that, the loss was saved.

04:04This is called remaining loss.

04:06You can carry forward the remaining loss in the coming years.

04:13When you will have a profit in the next year,

04:15then you can minus the loss and your tax will be saved.

04:18Suppose, you have to save it.

04:20Suppose, you don't have any profit in the next year,

04:25but your loss is still there,

04:27then you can carry forward it for 8 years.

04:30In the next 8 years, you can knock off the loss of this year.

04:37Your tax will be saved.

04:39Those who have a loss in their property,

04:43we can't compensate them.

04:45We are sorry if someone has a loss.

04:47But at least you can use that loss to save tax.

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