Long-term capital gains tax on specified equity assets applies where securities transaction tax paid; separate computation and rebate adjustments follow. A special tax computation applies to long-term capital gains from transfer of equity shares, units of equity oriented funds, or business trust units where securities transaction tax conditions are met, with an IFSC/exchange exception and potential acquisition exceptions by notification. Tax is calculated by charging a specified rate on gains above a threshold while taxing the remaining income as if gains were excluded, and allowing Chapter VI-A deductions and rebate adjustments after reducing tax attributable to those gains. Definitions and investment tests for equity oriented funds are specified.