Yes. From abrdn:In any case, If you sell an asset and buy back the same within 30 days in UK in a taxable account, there is certainly no capital gains tax in the UK, am I right ?
This is not limited to sales placed "in error"; you can use it intentionally if circumstances warrant.However, the rules can offer an invaluable way of amending the capital gain or loss position on a sale that may have been placed in error.
Where an investor has sold an asset and created a large gain, it's possible to buy back into the fund within 30 days and the share matching rules may mean the large gain is largely replaced by a much smaller one or possibly even a loss.
The above is all UK tax, and assumes a UK tax-resident. I have no clue how this would feed into your Indian (or any other country) tax.
Statistics: Posted by TedSwippet — Wed Jun 05, 2024 2:55 am — Replies 2 — Views 316