Those earning Rs 2-5 crore will pay effective LTCG of 26% and those earning less than Rs 5 crore will have to pay LTCG of 28.5%
Those earning Rs 2-5 crore will pay effective LTCG of 26%; those earning Rs 5 cr-plus will have to pay LTCG of 28.5%
Listed shares received through family succession or will of the deceased and acquired till January 31 will not attract STT
The finance ministry had received various representations demanding removal of LTCG tax
80% of the top 500 stocks above their Jan 31, 2018 price
Also, the off-market transactions undertaken by non-residents in line with FDI guidelines, qualified institutional buyers, venture capitalist without payment of STT too could avail the 10% LTCG rate
New tax on equities applicable on only 14% shares at the end of first half of FY19
Seek clarity for gains made in IPO share sales
In the 2018-19 budget, the government had after a gap of 14 years reintroduced 10 per cent tax on long-term capital gains exceeding Rs 1 lakh from sale of shares
Finance Minister Arun Jaitley, in his budget speech, had announced LTCG tax of 10 per cent on equity gains beginning February 1, 2018 - on gains exceeding Rs 100,000
Keeping the income tax rates and slabs unchanged, the Budget introduced a Rs 40,000 standard deduction for salaried employees and pensioners
FinMin receives representations demanding withdrawal of LTCG via Finance Bill
Local stock funds received Rs 1.64 trillion of net inflows in the first 11 months of the year that began April 1
However, it will have an impact on tier II accounts, also known as non-pension account, he said
The grandfathering clause will not be applicable even if a listed company merges with an unlisted one
The rollout timing could also not have been worse as global markets have tumbled amid worries of higher inflation
Adhia said the decline in the key stock indices is primarily due to global market meltdown over last few days and not due to the imposition of LTCG
The Union Budget 2018 proposes to levy a 10% LTCG tax on gains above Rs 100,000 from selling securities
But ongoing correction could play spoilsport
The Finance Bill, 2018, has proposed to provide for a new long-term capital gains tax regime for equity shares, unit of an equity-oriented fund, and unit of a business trust