Long-term capital gains taxation on equity assets applies with STT conditions, threshold limits, and restricted deductions. Concessional tax applies to specified long-term capital gains from equity shares, units of equity-oriented funds, and units of business trusts, subject to securities transaction tax conditions and limited relaxations for IFSC transactions. The tax is computed separately from other income, with threshold-based taxation, limited adjustment of the basic exemption limit for resident individuals and HUFs, and restrictions on Chapter VIII deductions and rebate against the tax on such gains. The commentary also explains equity-oriented fund qualification, continuous equity exposure requirements, and special cost of acquisition rules for assets acquired before 1 February 2018.
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Provisions expressly mentioned in the judgment/order text.
Long-term capital gains taxation on equity assets applies with STT conditions, threshold limits, and restricted deductions.
Concessional tax applies to specified long-term capital gains from equity shares, units of equity-oriented funds, and units of business trusts, subject to securities transaction tax conditions and limited relaxations for IFSC transactions. The tax is computed separately from other income, with threshold-based taxation, limited adjustment of the basic exemption limit for resident individuals and HUFs, and restrictions on Chapter VIII deductions and rebate against the tax on such gains. The commentary also explains equity-oriented fund qualification, continuous equity exposure requirements, and special cost of acquisition rules for assets acquired before 1 February 2018.
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