![]() ![]() the Full Value of Consideration received or accruing as a result of the transfer of the capital asset i.e.Fair Market Value (‘FMV’) of such investments and.The actual COA of such investments and.The concept of grandfathering in the case of LTCG on sale of equity investments works as follows:Ī method of determining the Cost of Acquisition (COA) of such investments have been specifically laid down as per the COA of such investments shall be deemed to be the higher of: “Grandfathered” persons enjoy the right to avail concession because they have made their decisions under the old law. When a new clause or policy is added to a law, certain persons may be relieved from complying with the new clause. In the Budget 2018, there has been a proposal to Grandfather investments made on or before 31 January 2018. Grandfathering Provisions Under Section 112A of Income Tax Act This otherwise means any transfer carried out after 1 April 2018, resulting in LTCG above Rs 1 lakh, will attract tax at the rate of 10%. The provisions of this section will apply from the financial year (FY) 2018-19, i.e. A rebate under section 87A cannot be claimed in respect of long-term capital gain tax due under section 112A. No deduction under Chapter VI A is available for such long-term capital gain.ĥ. The securities should be long-term investments.Ĥ. The STT was paid when the asset was sold in the case of units of an equity oriented fund or units of a business trust.ģ. The securities transaction tax (STT) has been paid on the acquisition and transfer of an equity share of a corporation.Ģ. The following conditions apply for availing the benefit of the concessional rate under section 112A of Income Tax Act:ġ. The schedule for Section 112A of the Income Tax Act, which requires the taxpayer to fill out the scripwise data of securities sold during the year, is included in the income tax form. It provides for a 10% tax on long-term capital gains on listed stocks that surpass a Rs.1 lakh threshold. It is effective beginning with the fiscal year 2018-19. Following the abolition of the exemption under section 10(38), the said section was established in Budget 2018. Section 112A allows long-term capital gains on the sale of listed equity shares, equity-oriented mutual funds, and business trust units. As per this section, the long-term capital gains (LTCG) arising on sale of equity shares or units of an equity-oriented mutual fund on which Securities Transaction Tax (STT) is paid was exempt from taxation. * Computer Data (Bytes, MB, KB, GB), Data Transfer, Radix (Hex, Oct, Bin).Budget 2018 proposed to remove Section 10 (38) of the Income Tax Act, 1961. Loan, Mortgage, Energy Expense, Fuel Economy, Sales Tax, Tip Calculators… * Area, Cooking, Coordinates, Energy and Work, Frequency, Gas Mileage, Length - Distance, Power, Pressure, Temperature, Velocity, Speed, Volume - Capacity, Weight - Mass. Ability to download templates from the Converter Plus catalog on the internetĬonverter Plus ships with more than 100 categories, including: Ability to edit units/templates and sharing the templates via email Automatic currency exchange rate refresh Full text search to quickly locate categories and units Support for compound units like Pounds + Ounces or Feet + Inches Converting multiple units/currencies simultaneously You can edit existing templates, add your own or download templates contributed by other users.Įxchange rates for all 167 world's currencies is refreshed automatically every 6 hours or on request. Converter Plus also comes with many calculators like mortgage, loan, tip, fuel consumption and many others for everyday problems. Converter+ is a unit converter with the most extensive list of currencies and units in hundreds of categories. ![]()
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