https://www.taxtmi.com/acts?id=45714 Section 114 requires assessees other than companies to compute tax by reducing total income for capital gains and specified compensation, calculating income tax and super tax on that reduced amount, and then adding tax on capital gains: net short term gains taxed at the average income tax and super tax rates applicable to the reduced income; net gains from other capital assets taxed either at the corresponding average rates (excluding short term gains) or at a prescribed flat rate, whichever is less, subject to provisos limiting liability and caps. Section 115 requires companies to pay income tax on total income plus super tax components linked to long term capital gains and reduced income super tax. en-us Fri, 29 Nov 2024 17:22:23 +0530 Fri, 29 Nov 2024 17:22:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=45714 Section 114 requires assessees other than companies to compute tax by reducing total income for capital gains and specified compensation, calculating income tax and super tax on that reduced amount, and then adding tax on capital gains: net short term gains taxed at the average income tax and super tax rates applicable to the reduced income; net gains from other capital assets taxed either at the corresponding average rates (excluding short term gains) or at a prescribed flat rate, whichever is less, subject to provisos limiting liability and caps. Section 115 requires companies to pay income tax on total income plus super tax components linked to long term capital gains and reduced income super tax. Act-Rules F. Acts / Amendment Acts Fri, 29 Nov 2024 17:22:23 +0530 https://www.taxtmi.com/acts?id=45714