calculate_tax_liability
Calculate Indian LTCG/STCG tax liability for equity or mutual fund trades with post-July 2024 rules, including exemptions and loss carryforward. Get gain classification and tax summary.
Instructions
Calculate Indian LTCG / STCG tax liability for an equity or mutual fund trade.
Applies Indian tax rules (post July 2024 Budget):
Listed equity / equity MF STCG (≤365 days): 20% flat (Section 111A)
Listed equity / equity MF LTCG (>365 days): 12.5% above ₹1.25L exemption (Section 112A)
Debt funds (post Apr 2023): taxed at income slab rate regardless of holding period
Capital losses: carried forward for 8 years
Args: buy_price: Purchase price per share/unit in INR buy_date: Date of purchase in DD-MM-YYYY format (e.g. 15-01-2023) sell_price: Selling price per share/unit in INR sell_date: Date of sale in DD-MM-YYYY format (e.g. 20-03-2024) quantity: Number of shares or units asset_type: One of: equity, mutual_fund_equity, mutual_fund_debt, debt_fund symbol: Optional stock/fund symbol for display (e.g. RELIANCE, TCS)
Returns: Formatted tax summary with holding period, gain classification, and tax liability.
Examples: calculate_tax_liability(buy_price=1200, buy_date="01-01-2023", sell_price=1500, sell_date="15-03-2024", quantity=100, symbol="RELIANCE")
Input Schema
| Name | Required | Description | Default |
|---|---|---|---|
| symbol | No | ||
| buy_date | Yes | ||
| quantity | Yes | ||
| buy_price | Yes | ||
| sell_date | Yes | ||
| asset_type | No | equity | |
| sell_price | Yes |
Output Schema
| Name | Required | Description | Default |
|---|---|---|---|
| result | Yes |