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of <h1>How long-term capital gains are taxed: separate computation, category rates, date-based rates and safeguards and excess-tax limits</h1> Where an assessee's total income includes long-term capital gains, tax is computed by combining tax on the total income excluding those gains with tax calculated separately on the gains. Different categories (resident individual/HUF, domestic company, non-resident, foreign company, and other residents) have specified rates: generally 20% for transfers before 23 July 2024 and 12.5% for transfers on or after that date; a concessional 10% (changing to 12.5% from 23 July 2024) applies to certain unlisted shares for non-residents. Provisions adjust gains where reduced total income falls below the basic exemption and contain safeguards limiting excess tax in specified cases (e.g., earlier law comparisons, listed securities/zero coupon bonds).
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