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Neelakanth Chavan

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What are the taxation rules in india on investments in stocks. As per my knowledge, gains on stocks more than 1 lakh are taxed at 10% for long term gains(>1year) & 15% for short term gains(<1year). How can someone escape from this. One method that I know but not sure is selling stocks before it hits 1lakh and again buying them back. Won't this be taxed?

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