Tax on long-term capital gains.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....al income, subject to sub-sections (2) and (3), shall be the aggregate of- (a) income-tax payable on the total income as reduced by such long-term capital gains, had the total income, as so reduced, been his total income; and (b) income-tax calculated on such long-term capital gains at the rate of 12.5%. (2) In the case of an individual or a Hindu undivided family, being a resident, where the....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ax to be ignored; A = income-tax computed under clause (b) of sub-section (1); B = income-tax computed under clause (b) of sub-section (1) taking the rate as 20% and the capital gains is computed by taking the cost of acquisition as indexed cost of acquisition and the cost of improvement as indexed cost of improvement. (4) Where the gross total income of an assessee includes any income arisin....