Why LTCG has been taxed at 20% ? Tax rate on LTCG should be 10%. The note below says, it is 20% assuming shares are listed. Even if they are listed, then also how 20% ?
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Hi Abhinav
Pls refer the note below in the question, it’s clearly ans your doubt
I’m sorry but note is also not clear. It says if LTCG is on listed shares then tax rate is 20%. Which section says that ? I’ve checked the entire NR taxation chapter. Everywhere LTCG rates are 10%
Hi Abhinav, the capital asset concerned is not shares, it is debentures, tax as per section 112 shall apply which is 20% on listed debentures.
10% is in case of shares , not debentures as per 112A.
Understood,thank you