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of <h1>Section 115 Amended: New Tax Rates on Capital Gains from Shares, Real Estate, and Other Long-Term Investments for Companies.</h1> Section 115 of the Income Tax Act is replaced to address taxation on capital gains for companies. The tax payable includes: (i) 12.5% on capital gains from bonus shares, reduced by the same percentage of the shares' face value, but not exceeding the calculated tax; (ii) 40% on capital gains from buildings, lands, or related rights, and 30% on other long-term capital gains; and (iii) tax calculated as if the total income excluded the capital gains specified. This amendment aims to clarify and structure the tax obligations of companies regarding various types of capital gains.
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