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of <h1>Section 112A: 10% Tax on Long-Term Capital Gains Over INR 1 Lakh from Equity Investments, Effective April 2019.</h1> Section 112A of the Income-tax Act, effective from April 1, 2019, introduces a 10% tax on long-term capital gains exceeding INR 1 lakh from equity shares, equity-oriented funds, or business trust units, provided securities transaction tax is paid. For residents, if total income minus these gains falls below the non-taxable threshold, the gains are reduced accordingly. Transactions on recognized stock exchanges in International Financial Services Centres in foreign currency are exempt from securities transaction tax. The cost of acquisition for assets acquired before February 1, 2018, is determined as per specified criteria. Deductions under Chapter VI-A and rebates under section 87A are adjusted for these gains.
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