Tax on investment income and long-term capital gains

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....l gains of an asset other than a specified asset; (b) income by way of long-term capital gains, the tax payable by him shall be the aggregate of - (i) the amount of income-tax calculated on the income in respect of investment income referred to in clause (a), if any, included in the total income, at the rate of twenty per cent.; 5[(ii) the amount of income-tax calculated on the income by wa....

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....e rate of twelve and half per cent. of such income-tax" 3.  Substituted vide Section 27 of the Finance Act, 1985 w.e.f. 01-04-1986 before it was read as, "the aggregate of the income-tax and surcharge" 4.  Substituted vide Section 36 of the Finance Act, 1997 w.e.f. 01-04-1998 before it was read as, "1[Tax on investment income and long-term capital gains. - 115E. (1) Whe....