Question

The deduction from long term capital gain is given under which section of Income Tax Act

Answer 1

Answer:

Section 112

Explanation:

The taxation of long-term capital gains is divided under two provisions, i.e. Section 112 and Section 112A of the Income Tax Act. In this article, we will know the tax rates applicable to transfer all the long-term capital assets (except capital assets covered under Section 112A).

Answer 2

Answer:

Explain the ways of calculating tax on long term capital assets