21
Tuesday
August 2018
3:17 PM IST
News Headlines
UAE offers Rs 700 crore for Kerala        When nature let us go there, I plan to help people rebuild their homes, says Rohini        Bodies found as flood recedes        SC judges to contribute to Kerala flood relief fund        28 more services from Trivandrum International airport        Rahul Gandhi Demands More Fund, Kiren Rijiju Says 'no Politics'        West Bengal govt to give Rs 10 crore for Kerala flood relief: Mamata Banerjee        6.9 magnitude earthquake hit Indonesia's Lombok        12 of Imran’s 21 cabinet members held key posts during Musharraf regime        India bowl out England for 161 at tea        Kerala flood: Papa CJ expressed his willingness to perform at fund-raiser programmes        Declare Kerala floods a national disaster: Rahul Gandhi asks PM        PM announces an interim relief of Rs 500 Cr        PM's aerial survey called off        Centre to Supreme Court: ‘Decision taken to reduce Mullaperiyar water level’        Swami Agnivesh assaulted on way to pay homage to Atal Bihari Vajpayee in New Delhi        Imran Khan Elected New Pakistan PM, Seen In Tears After Vote        'He's innocent': US threatens more sanctions on Turkey if pastor not freed        Kerala floods: Sanju Samson contributes Rs 15 lakhs towards relief fund        Pregnant woman airlifted by Navy gave birth to baby boy        
Home   | Main News   | Kerala  | National   | International  | Business   | Sports   | Entertainment   | Columns   | Offbeat   | About Deepika 
Business News
CBDT responds to queries regarding long-term capital gains taxation
 
(New Delhi, Feb 05, 2018 ): Responding to frequent queries regarding taxation of long-term capital gains as proposed in the Finance Bill, 2018, the Central Board of Direct Taxes (CBDT) on Sunday gave answers in the form of Frequently Asked Questions or FAQs. This form is now available on the website www.incometaxindia.gov.in.

In a statement, the official spokesperson of the CBDT and Commissioner of Income Tax

(Media and Technical Policy), Surabhi Ahluwalia, said, "Under 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 exempt from income tax under Clause (38) of Section 10 of the Income Tax Act. However, transactions in such long-term capital assets are liable to Securities Transaction Tax (STT).

The Finance Bill, 2018 proposes 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 long-term capital asset exceeding one lakh rupees will be taxed at a concessional rate of 10 percent.

Since the introduction of the Finance Bill, 2018, on February 1, 2018, several queries have been raised in different fora on various issues relating to the proposed new tax regime for the taxation of long-term capital gains. The Central Board of Direct Taxes (CBDT) has issued in the form of has issued responses to these queries in the form of Frequently Asked Questions (FAQs) dated February 4, 2018, which have been uploaded on www.incometaxindia.gov.in."


US dollar ends sharply higher against rupee
Erdogan says Turkey 'won't lose economic war' after lira crash
Nifty scales another peak of 11,470, up 20 points
Govt should consider framing dedicated policy for BPO sector: Par panel
SBI launches unified payment terminal- MOPAD
IKEA to open first India outlet at Hyderabad tomorrow
Govt withdraws FRDI bill in Parliament following backlash
Jet Airways releases salaries to employees, decides against pay cut
TRAI gives nod for sale of 5G spectrum
Maruti Suzuki India posts marginal decline in July sales at 1,64,369 units
RBI rate hike to avoid drifting away from inflation mandate, says Patel
India Post Payments Bank to start operations with 650 branches in August
Twitter kills 143,000 apps, charts new rules for developers
Walmart looks to double wholesale presence in?India, open 20 stores over next three years
Third party insurance for two, four-wheeler be made mandatory: Supreme Court
Samsung, Xiaomi corner 60 pc share of India's smartphone mkt in Q2: Canalys
Indo-Pacific must be free, open and and inclusive region: Swaraj
Govt working on another verison of UDAN, says Sinha
Talks on between India, Singapore for cruise tourism: Gadkari
Govt doubles import duty on over 50 textile products
KERALA NEWS
UAE offers Rs 700 crore for Kerala
 New Delhi: Kerala CM Pinarayi Vijayan said that the United Arab Emirates has offered Rs 700 crore to  
When nature let us go there, I plan to help people rebuild their homes, says Rohini
Bodies found as flood recedes
28 more services from Trivandrum International airport
INTERNATIONAL NEWS
6.9 magnitude earthquake hit Indonesia's Lombok
 (Lombok, Aug 17, 2018):An earthquake of magnitude 6.9 on Richter scale rocked the island of L
12 of Imran’s 21 cabinet members held key posts during Musharraf regime
Imran Khan Elected New Pakistan PM, Seen In Tears After Vote
'He's innocent': US threatens more sanctions on Turkey if pastor not freed
NATIONAL NEWS
SC judges to contribute to Kerala flood relief fund
 New Delhi: The judges of the Supreme Court will contribute to the Kerala flood relief fund, Chief Ju
Rahul Gandhi Demands More Fund, Kiren Rijiju Says 'no Politics'
West Bengal govt to give Rs 10 crore for Kerala flood relief: Mamata Banerjee
Swami Agnivesh assaulted on way to pay homage to Atal Bihari Vajpayee in New Delhi
Untitled Page
Rashtra Deepika LTD
Copyright @ 2017 , Rashtra Deepika Ltd.