Issuance of Frequently Asked Questions (FAQs) regarding taxation of long-term capital gains proposed in Finance Bill, 2018

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ssuance of Frequently Asked Questions (FAQs) regarding taxation of long-term capital gains proposed in Finance Bill, 2018 <br>Budget<br>Dated:- 5-2-2018<br><BR>Since the introduction of the Finance Bi....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ll, 2018 on 1st February, 2018, several queries have been raised in different fora on various issues relating to the proposed new tax regime for taxation of long-term capital gains. The Central Boar....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....d of Direct Taxes (CBDT) has issued responses to these queries in the form of Frequently Asked Questions (FAQs) dated 4th February, 2018 which have been uploaded on www.incometaxindia.gov.in. Under t....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....he existing regime, Long Term Capital Gains arising from transfer of long term capital assets, being equity shares of a company or a unit of equity oriented fund or a unit of business trust, is exempt....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... from income tax under clause (38) of Section 10 of the Act. However, transactions in such long-term capital assets are liable to Securities Transaction Tax (STT). The Finance Bill, 2018 proposes t....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....o withdraw the exemption under clause (38) of Section 10 and to introduce a new Section 112A in the Income-tax Act, 1961 so as to provide that Long-Term Capital Gains arising from transfer of such Lon....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....g-Term Capital Asset exceeding Rupees one lakh will be taxed at a concessional rate of 10 percent. ............... See: Frequently Asked Questions (FAQs) regarding taxation of long-term capital gai....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ns proposed in Finance Bill, 2018-reg.<BR> News - Press release - PIB....