Tax on long term capital gain is Charged at 20%
However, tax on long term capital gain is 10% in case of Non Residents and Foreign Companies
- Transfer of Shares of Unlisted Securities
- Transfer of Shares of Company (other than company in which Company is Substantially interested (New Amendment)
Note:-
If a Individual has some other Income apart from Capital Gain Income, it will be taxed as per Normal rates
However Benfit of Income tax Slab Rate will also be available.
Example
Suppose Other Income is 100000 and Long Term Capital Gain Income is 220000,Total Income=320000
No tax will be charged for income till 250000
View answer
Tax at 20% will be charged on income greater than 250000 i.e. 20%*(320000-250000)=14000
Rebate=2000
Net tax =12000
Cess=3%*12000=360
Total tax=12360