Long term capital gains tax to come into effect from 01st April


Several Budget proposals, including the reintroduction of the tax on long-term capital gains (LTCG) exceeding Rs 1 lakh from the sale of shares, will kick in from 01st April 2018, the beginning of the 2018-19 financial year.

Besides, other tax proposals like the reduced corporate tax of 25 percent on businesses on a turnover of up to Rs 250 crore and a standard deduction of Rs 40,000 in lieu of transport allowance and medical reimbursement, will come into effect from 01st April 2018.

Source- The Hindu Business Line

×

Download success!

Thanks for downloading the guide. For similar guides, free study material, quizzes, videos and job alerts you can download the Adda247 app from play store.

[adda247_lead_form]

Leave a comment

Your email address will not be published. Required fields are marked *