TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Acts & Rules
of of All Acts & Rules
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Amendment to Section 114 revises tax rates on capital gains; minimum 15% tax if income exceeds 10,000.</h1> Section 114 of the Income-tax Act has been amended to revise the calculation of income-tax and super-tax on net capital gains exceeding five thousand rupees. For capital gains from buildings, lands, or related rights, the tax is set at three-fourths of the average income-tax and super-tax rates. For other capital gains, it is one-half of those rates. If the calculated tax is less than fifteen percent of the net capital gains, a minimum of fifteen percent is imposed. No tax is payable if the total income is ten thousand rupees or less.
TaxTMI 
TaxTMI 
