New Delhi, May 5 -- -Name withheld on request

As per the provisions of Income-tax Act, capital gains arising from transfer of a long-term capital asset being equity share in a company or units of equity oriented mutual fund, shall be taxed at 10% (plus applicable surcharge and cess) on capital gains exceeding Rs.1 lakh, if STT (securities transaction tax) has been paid at the time of acquisition and transfer of such capital asset.

LTCG arising from other capital assets are taxed as per the respective/applicable provisions and tax rates.

An individual, qualifying as resident as per the provisions of Income-tax Act, is eligible to consider the benefit of progressive slab rates and can adjust the basic exemption limit ( Rs.3 lakh under ne...