The top 1 percent of tax filers in terms of gross income, or about 50,000 individuals, were responsible for over 54 percent of the short-term capital gains (STCG) reported for the assessment year 2023-24 (AY24).
However, the same group took home just 16.1 percent of total income, reflecting a skewed 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, real estate and other assets held for less than a year. The tax data does not show a specific distribution of profits