Here’s CBDT’s detailed explainer on how the tax will be calculated
canada goose clothing uk The Union Budget 2018 has said that long term capital gains exceeding one lakh rupees from the sale of shares or equity oriented funds will be taxed at 10 percent from April 1, 2018. canada goose clothing uk
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canada goose outlet england Long term capital gains mean gains arising from the transfer of a long term capital asset. The Finance Bill, 2018 proposes to provide for a new canada goose store long term capital gains tax regime for the following assets equity shares in a company listed on a recognised stock exchange; unit of an equity oriented fund and Unit of a business uk canada goose trust. The proposed regime applies to the above assets, if the assets are held for a minimum period of 12 months from the date of acquisition and Securities Transaction Tax (STT) is paid at the time cheap Canada Goose of transfer. However, in the case of canada goose equity shares acquired after October 1, Canada Goose Online 2004, STT is required to be paid even at canada goose coats on sale the time of acquisition. canada goose outlet england
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canada goose parka uk The tax will be levied only upon transfer of the long term capital asset on canada goose uk outlet or after April https://www.canadagoosejacketonlines.ca 1, 2018. canada goose parka uk
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canada goose outlet online LTCG gains will be computed by deducting the cost of acquisition from the full value of consideration on Canada Goose Jackets transfer of the long term capital asset. canada goose outlet online
How do we determine the cost of acquisition for assets acquired on or before 31st January 2018?
The cost of acquisition for the LTCG acquired on or before January 31, 2018 will be the actual cost. However, if uk canada goose outlet the actual cost is less than the fair market value of such asset as on 31st of January, 2018, the fair market value will be deemed to be the cost of acquisition. Further, if the full value of consideration on transfer is less than the fair market value, then such full value of consideration or the actual cost, whichever is higher, will be deemed to be the cost of acquisition.
How will the fair market value be determined?
canada goose vest outlet In case of a listed equity share or unit, the fair market value means the highest price of such share or canada goose clearance unit quoted on a recognized stock exchange on 31st buy canada goose jacket cheap of January, 2018. However, if there is no trading on 31st January, 2018, the fair market value will be the highest price quoted on a date immediately preceding 31st of January, 2018, on which it has been traded. In the case of an unlisted buy canada goose jacket unit, the net asset value of such unit on 31st of January, 2018 will be the fair market value. canada goose vest outlet
canada goose outlet black friday Whether the cost of acquisition will be inflation indexed? canada goose outlet black friday
canada goose outlet location The long term capital gains will be computed Canada Goose Coats On Sale without giving effect to the provisions of the second provisos of section 48. Accordingly, it is clarified that the benefit of inflation indexation canada goose black friday sale of the cost of acquisition Canada Goose Parka would not be available for computing long term capital gains under the new tax regime. canada goose outlet location
canada goose outlet reviews What is the date of commencement of the proposed new tax regime? canada goose outlet reviews
The proposed new tax regime will apply to transfer made on or after 1st April, 2018. The existing regime providing exemption under clause (38) canada goose uk black friday of section 10 of the Act will continue to be available for transfer made on or before 31st March, 2018.
canada goose outlet store toronto What will be the tax treatment of accrued gains upto 31st January 2018? canada goose outlet store toronto
canada goose outlet seattle As the fair market value on 31st January, 2018 will be taken as cost of acquisition, the gains accrued upto 31st January, 2018 will continue to be exempt. canada goose outlet seattle
What will be canada goose uk shop the tax treatment of transfer of share or unit between February 1, 2018 and March 31, 2018?
canada goose outlet shop Since the regime will be applicable to transfer made on or after 1st April, 2018, the transfer made between 1st canada goose coats February, 2018 and 31st March, 2018 will be eligible for exemption under clause (38) of section canada goose clearance sale 10 of the Act. canada goose outlet shop
canada goose outlet in vancouver What will be the tax treatment of transfer made on or after 1st April 2018? canada goose outlet in vancouver
canada goose outlet miami The long term capital gains exceeding Rs 1 Lakh arising from transfer of these asset made on after 1st April, 2018 will be taxed at 10 per cent. However, there will be no tax on gains accrued upto 31st January, 2018. canada goose outlet miami
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canada goose outlet store uk The holding period will be counted from the date of acquisition. canada goose outlet store uk
canada goose outlet online store review Whether tax will be deducted at source in case of gains by resident tax payer? canada goose outlet online store review
There will be no deduction of tax at source from the payment of long term capital gains to a resident tax payer.
canada goose outlet us Whether tax will be deducted at source in case of payment canada goose outlet of long term capital gains by non resident tax payer (other than a Foreign Institutional Investor) canada goose outlet us.
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