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of <h1>Section 112A taxes long-term capital gains on equity shares and mutual funds at 10% or 12.5% rates</h1> Section 112A imposes tax on long-term capital gains from transfer of equity shares, equity-oriented fund units, and business trust units at concessional rates. Previously exempt under section 10(38) until 2018-19, these gains now attract 10% tax (pre-July 2024) or 12.5% tax (post-July 2024) on amounts exceeding specified thresholds. Securities Transaction Tax payment is required on acquisition and transfer. Indexation benefits are not available, and deductions under Chapter VI-A or rebate under section 87A cannot be claimed against such gains.
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