Question

Can capital bond purchase only gains amount or tax portion amount taxable verdict as per income tax law give example

Answer 1

As per the Income Tax Act, capital gains are taxable. However, independent taxation rules are applicable for each asset class. Broadly, in case of long-term capitalassets you have to pay 20.6% tax on your net profit, and at 10.3% on gainsabove Rs 1 lakh if the asset is equity

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