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of <h1>Section 112A: 10% Tax on Long-Term Capital Gains Over INR 1 Lakh from Equity Shares and Funds Since April 2019.</h1> Section 112A, introduced by the Finance Act, 2018, applies to the taxation of long-term capital gains arising from the transfer of equity shares, units of equity-oriented funds, or business trust units. Effective from April 1, 2019, it mandates a 10% tax on gains exceeding INR 1 lakh, provided securities transaction tax has been paid on acquisition and transfer. Exceptions exist for transactions on recognized stock exchanges in International Financial Services Centres. Deductions under Chapter VI-A and rebates under section 87A are adjusted based on these gains. The section also defines terms like 'equity-oriented fund' and 'recognized stock exchange.'
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