A capital gains tax (CGT) is a tax on the profit realized on the sale of a non-inventory asset. The most common capital gains are realized from the sale of stocks, bonds, precious metals, real estate, and property.Not all countries impose a capital gains tax and most have different rates of taxation for individuals and corporations.Capital gains on investments made in India through companies in Mauritius and Singapore became fully taxable from April 1 after the concession period of 2 years ceased to exist.A capital gains tax (CGT) is a tax on the profit realized on the sale of a non-inventory asset. The most common capital gains are realized from the sale of stocks, bonds, precious metals, real estate, and property. Capital gains tax can be payable on valuable items or assets sold at a profit.As of 2018, equities listed on recognised stock exchange are considered long term capital if the holding period is one year or more. Until 31 January 2017, all Long term capital gains from equities were exempt as per section 10 (38) if shares are sold through recognized stock exchange and Securities Transaction Tax(STT) is paid on the sale. STT in India is currently between 0.017% and 0.1% of total amount received on sale of securities through a recognized Indian stock exchange like the NSE or BSE.
Short-term capital gains covered under section 111A is charged towhat tax percentage?
Explanation:
Section 111A is applicable in case of STCG(Short Term Capital Gains ) arising on transfer of equity shares through recognised stock exchange and such transaction is liable to securities transaction tax.Short-term capital gains covered under section 111A is charged to tax @15% (plus surcharge and cess as applicable).However, in case of resident individual or resident HUF if other income is less than 'basic exemption limit', then such STCG shall be reduced by such short fall and tax on balance of STCG shall be computed @15%.