TaxTMI 
TaxTMI 
Tax on long-term capital gains on units - THE FINANCE (No. 2) BILL, 2014
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....ax on long-term capital gains on units - THE FINANCE (No. 2) BILL, 2014 <br>News and Press Release<br>Dated:- 13-7-2014<br><BR>Tax on long-term capital gains on units Under the existing provisions o....
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....f section 112 of the Act, where tax payable on long-term capital gains arising on transfer of a capital asset, being listed securities or unit or zero coupon bond exceeds ten per cent. of the amount o....
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....f capital gains before allowing for indexation adjustment, then such excess shall be ignored. As long-term capital gains is not chargeable to tax in the case of transfer of a unit of an equity oriente....
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....d fund which is liable to securities transaction tax, the benefit under section 112 in respect of unit cover only the unit of a fund, other than an equity oriented fund. It is proposed to amend the ....
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....provisions of section 112 so as to allow the concessional rate of tax of ten per cent. on long term capital gain to listed securities (other than unit) and zero coupon bonds. This amendment will tak....
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....e effect from 1st April, 2015 and will accordingly apply, in relation to the assessment year 2015-16 and subsequent assessment years. [Clause 34 ]<BR> News - Press release - PIB....