India Publishes FAQs on the Introduction of a 10% Tax on Long-Term Capital Gains

India's Central Board of Direct Taxes has published Frequently Asked Questions (FAQs) on the introduction of a 10% tax on long-term capital gains, which is included as part of the 2018-19 Union Budget ({News-2018-02-05/P/2-previous coverage}). Some of the main points include:

• The 10% rate would apply on long-term gains (assets held at least 12 months) for the following assets if the gains exceed INR 100,000: equity shares in a company listed on a recognized stock exchange; a unit of an equit…