CBDT responds to queries of taxpayers regarding long-term capital gains taxation

Updated:8 years, 5 months ago

New Delhi, Feb 05 (ANI): 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. 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."

Top Videos

Updated:2 years, 6 months ago

Amid dry winter in Kashmir, snow-clad Bangus Valley in Kupwara district emerges as winter wonderland

Updated:2 years, 6 months ago

Grand welcome given to sculptor Arun Yogiraj at Bengaluru Airport

Updated:2 years, 6 months ago

Injured WB CM Mamata Banerjee meets West Bengal Governor CV Anand Bose

Updated:2 years, 6 months ago

Couple set goals! Husband to lead Sikh Regiment, wife to command ICG contingent in R-Day Parade

Updated:2 years, 6 months ago

Inside India’s and Air India’s first Airbus A350 with luxurious seats, new interiors

Updated:2 years, 6 months ago

J-K: Srinagar’s Ghanta Ghar comes alive with spectacular Tricolour lighting

CBDT responds to queries of taxpayers regarding long-term capital gains taxation

Top Videos

Related Video

Sensex-Nifty open red, skids over 2,500 points amid Iran crisis; what it means for retail investors?

SEBI Chief Tuhin Kanta Pandey speaks on ‘Jane Street’ crackdown and enhanced surveillance measures

Impact of Middle East crisis! Will retail investors feel safe investing in IPOs? SEBI Chief Explains

Gautam Adani visits Baba Baidyanath temple in Deoghar, performs darshan and offers prayers

“Increase export…” Auto Industry expert Bagga outlines industry roadmap after trade deal with US

Distilleries Association seeks GST cuts on flex-fuel vehicles to boost in domestic demand

‘75 years old relation, beautiful Country…’ Sibi George hails India‑Iran Bilateral Ties

Monetary Policy Committee keeps the repo rate unchanged at 5.25%: RBI Governor Sanjay Malhotra

Challenges like obesity, digital addiction need immediate policy attention: Pharmexcil Chairman

Adani defence signs landmark partnership with Embraer aims to redefine future of aviation in India

‘New negotiations, could be final…’ Envoy Juan Angulo shares update on India-Chile CEPA talks

Adani Group invested ₹10,000 Cr generating over 7,000 jobs in last 3 years in Telangana: Karan Adani

Moscow Reveals Winners of International Expert of the Year 2025 Award

Novasensa COO Lacayo says India push critical mineral growth faster by ‘fixing policy gaps’

Union Commerce Minister Piyush Goyal attends 54th UAE National Day celebration in Delhi Union Commerce Minister Piyush Goyal attends 54th UAE National Day celebration in Delhi

"The decision..." India's Defence Secretary Rajesh Kumar Singh gives big update on Kaveri Jet Engine

Electronics Export Council CEO stresses India’s push for self-reliant electronics manufacturing

मुख्यमंत्री भजनलाल शर्मा ने जीएसटी बचत उत्सव के तहत लोगों को किया जागरूक

Piyush Goyal, UAE Counterpart explore fresh investment avenues at 13th bilateral task force

Indian stock market surged on Monday after India-Pakistan ceasefire understanding reached