Individual Tax Slab for man & woman
Individual Tax Slab for Senior Citizen (above 60 years)
Individual Tax Slab for Upper Senior Citizen (above 80 years)
Education cess : 3% on Income Tax amount
CAPITAL GAIN
- Long Term Capital Gain (LTCG) on profit on sale of property etc: 20% with indexation benefits
- Long Term Capital Gain (LTCG) on in case of transfer of listed shares/securities/units: 20% with indexation benefits or 10% without indexation benefit (income from LTCG is exempt in case of transfer of equity shares/units of equity oriented fund which are liable to STT).
- Short Term Capital Gains (STCG) on listed securities traded on recognised Stock Exchange or Unit of Equity Oriented Fund : 15%
- Short Term Capital Gains (STCG) on Others : As per slab
Note:
- Indexation is adjustment for increase in the cost due to inflation over the period of holding the asset.
- Short Term Capital Assets: means a capital asset held by an assessee for not more than thirty six months immediately preceding the date of its transfer. However, in the following cases, an asset, held for not more than twelve months, is treated as short-term capital asset—
(a) Quoted or unquoted equity or preference shares in a company (Circular No. 495 dated 22.9.1987 explaining amendments by Finance Act, 1987 whereby unquoted shares of a private limited company also if held more than 12 months falls in the category of LTCG. Also Refer the Judgment in 120 TTJ 699 for unquoted shares held for less than 36 months.)
(b) Quoted Securities
(c) Quoted or unquoted Units of UTI
(d) Quoted or unquoted Units of Mutual Funds specified u/s. 10(23D)
(e) Quoted or unquoted zero coupon bonds
3. Long-term capital asset: means a capital asset which is not a short-term capital asset
Apurva Edge 