Thursday, October 6, 2011

Special Income tax rates on Long term-short term capital gain.


By on 9:39 AM

Under Income tax special tax rates are applicable on Long term capital gain(all types) and Short term capital on securities u/s 111A (where STT has been paid).So to calculate tax liability tax rates on long term capital gain and short term capital gain is also important.These rates are tabulated for last four year ay 2012-13,2011-12,2010-11, 2009-10 in table below . which may be help ful for you .


TAX ON LTCG                                  
2009-10
2010-11
2011-12
2012-13
Tax Rate (with indexation benefit)
20%
20%
20%
20%
Surcharge on Ind/ HUF/ AOP / BOI (if net income exceeds 10 lac)
10%
-
-
-
Surcharge on Firm / LLP (if net income exceeds 1 Crore)
10%
-
-
-
Surcharge on Domestic Company (if net income exceeds 1 Crore)
10%
10%
7.5%
5%
Edu. Cess & SHE Cess
3%
3%
3%
3%
Note:
1. Tax on LTCG can be taken as 10% + SC + Cess in case of transfer of listed shares / securities / units without indexation benefit.
2. Income from LTCG is exempt in case of transfer of equity shares / units of equity oriented fund which are liable to STT.
Assessment year
TAX ON STCG  (u/s 111A)
2009-10
2010-11
2011-12
2012-13
Tax Rate
15%
15%
15%
15%
Surcharge on Ind/ HUF/ AOP / BOI (if net income exceeds 10 lac)
10%
-
-
-
Surcharge on Firm / LLP (if net income exceeds 1 Crore)
10%
-
-
-
Surcharge on Domestic Company (if net income exceeds 1 Crore)
10%
10%
7.5%
5%
Edu. Cess & SHE Cess
3%
3%
3%
3%

About Syed Faizan Ali

Faizan is a 17 year old young guy who is blessed with the art of Blogging,He love to Blog day in and day out,He is a Website Designer and a Certified Graphics Designer.

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