FY24 has been a bumper year for equity investors. Many investors would have also booked some gains. But since capital gains from equity are subject to tax, they will also have to part with some of them. Tax harvesting and taxloss harvesting can help reduce the tax or even nullify it.

Tax harvesting is also called taxgain harvesting. It came into being after the introduction of the longterm capital gains tax on equity and the subsequent exemption of gains up to Rs 1 lakh from taxation. In this video, we have explained how you can use it to lower your tax outgo.

Taxloss harvesting has an even wider scope than tax harvesting. Taxloss harvesting is deliberately booking losses to lower your capital gains and hence tax. You can even carry forward your losses for up to eight financial years. In the video, we have explained how you can use taxloss harvesting to reduce your tax.

But there are certain things you should keep in mind while practising tax harvesting and taxloss harvesting. We have discussed them in this video as well.

Chapters
00:00 Introduction
01:41 TaxGain Harvesting
07:14 TaxLoss Harvesting
10:52 Things to keep in mind while using tax harvesting

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