The top 1 per cent tax filers in terms of gross income, or about 50,000 individuals, accounted for over 54 per cent of short-term capital gains (STCG) reported for the assessment year 2023-24 (AY24).
However, the same group took home just 16.1 per cent of the total earnings, reflecting a lopsided trend in individual income and STCG, according to a Business Standard analysis of income tax data for AY24.
STCG refers to gains from securities, gold, property and other assets held for less than a year. The tax data does not provide a break-up of gains specifically from
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