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of <h1>Amendment to Section 112: 20% Tax on Long-Term Gains, New 10% Rate for Unlisted Securities Gains Clarified</h1> Section 112 of the Income-tax Act is amended effective April 1, 2013. The amendment revises sub-clause (ii) to impose a 20% tax rate on long-term capital gains, except those from unlisted securities. A new sub-clause (iii) introduces a 10% tax rate on long-term capital gains from unlisted securities, calculated without considering the first and second provisos of section 48. Additionally, the definitions of 'securities,' 'listed securities,' and 'unlisted securities' are clarified, aligning with the Securities Contracts (Regulation) Act, 1956, and distinguishing between securities listed on recognized Indian stock exchanges and those that are not.
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