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

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..... Issuance of Frequently Asked Questions (FAQs) regarding taxation of long-term capital gains proposed in Finance Bill, 2018
Budget
Dated:- 5-2-2018

Since the introduction of the Finance B .....

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..... ill, 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 Boa .....

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..... rd 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 .....

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..... the 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 exemp .....

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..... t 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 .....

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..... to 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 Lo .....

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..... ng-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 ga .....

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..... ins proposed in Finance Bill, 2018-reg.
News - Press release - PIB .....

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