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of <h1>Section 112A: LTCG from equities taxed at 10% pre-23 July 2024 and 12.5% thereafter with ?125,000 exemption</h1> Where capital gains include long-term gains from equity shares, equity-oriented fund units or business trust units and securities transaction tax has been paid as specified, tax on total income is determined under Section 112A instead of Section 112. Long-term capital gains exceeding ?125,000 are taxed at 10% for transfers before 23 July 2024 and at 12.5% for transfers on or after that date, with the ?125,000 threshold applying in aggregate. The balance of total income is taxed ordinarily; for resident individuals/HUFs the chargeable LTCG is reduced if the remainder falls below the basic exemption. Transfers on IFSC exchanges and specified acquisition exceptions are excluded; Chapter VI-A deductions and section 87A rebate are adjusted as provided.
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