Long-term capital gains tax on specified equity transfers: separate computation with concessional rate for gains above threshold.

Tax on long-term capital gains applies to transfers of equity shares, units of equity-oriented funds, or units of business trusts where STT has been paid as prescribed. Tax is the aggregate of tax at a concessional rate on gains exceeding a statutory threshold and tax on remaining income after excluding those gains. Resident individuals/HUFs may reduce gains by the shortfall to the basic exemption limit; IFSC trades for foreign-currency consideration are exempt from the STT condition. Government may notify acquisition exceptions. The section defines equity oriented funds by 90%/65% minimum equity investment tests and specifies computation rules.

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