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3. WHAT DO YOU UNDERSTAND BY THE TERM”CAPITAL GAINS”
USED IN THE INCOME TAX ACT? WHAT ARE THE RULES REGARDING
EXEMPTION OF CAPITAL GAINS.
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Answer Posted / ameet
A capital gain is a profit that results from investments
into a capital asset, such as stock, bonds or real estate,
which exceeds the purchase price. It is the difference
between a higher selling price and a lower purchase price
resulting in a financial gain for a seller.
As per AY 2008-09 Dividends that are distributed attract a
tax of 15 per cent. Short term capital gains attract a tax
of 10 per cent under Section 111A. There is merit in
equating the rates and hence increased the rate of tax on
short term capital gains under Section 111A and Section
115AD to 15 per cent. This encourages investors to stay
invested for a longer term.
| Is This Answer Correct ? | 14 Yes | 3 No |
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