Income Tax Act, 2025
Section 8: Subs. by s. 49, ibid., for the Explanation (w.e.f. 12017).
8. Subs. by s. 49, ibid., for the Explanation (w.e.f. 12017).
461
1[112. Tax on long-term capital gains.—(1) Where the total income of an assessee includes any
income, arising from the transfer of a long-term capital asset, which is chargeable under the head “Capital
gains”, the tax payable by the assessee on the total income shall be the aggregate of,—
(a) in the case of an individual or a Hindu undivided family, 2[being a resident,]—
(i) the amount of income-tax payable on the total income as reduced by the amount of such
long-term capital gains, had the total income as so reduced been his total income; and
(ii) the amount of income-tax calculated on such long-term capital gains at the rate of twenty
per cent.:
Provided that where the total income as reduced by such long-term capital gains is below the
maximum amount which is not chargeable to income-tax, then, such long-term capital gains shall
be reduced by the amount by which the total income as so reduced falls short of the maximum
amount which is not chargeable to income-tax and the tax on the balance of such long-term
capital gains shall be computed at the rate of twenty per cent.;
(b) in the case of a 3[domestic company],—
(i) the amount of income-tax payable on the total income as reduced by the amount of such
long-term capital gains, had the total income as so reduced been its total income; and
(ii) the amount of income-tax calculated on such long-term capital gains at the rate of
4[twenty per cent.]:
5* * * * *
2[(c) in the case of a non-resident (not being a company) or a foreign company,—
(i) the amount of income-tax payable on the total income as reduced by the amount of such
long-term capital gains, had the total income as so reduced been its total income; and
6[(ii) the amount of income-tax calculated on long-term capital gains [except where such gain
arises from transfer of capital asset referred to in sub-clause (iii)] at the rate of twenty per cent.;
and]
(iii) the amount of income-tax on long-term capital gains arising from the transfer of a capital
asset, being 7[unlisted securities or shares of a company not being a company in which the public
are substantially interested], calculated at the rate of ten per cent. on the capital gains in respect of
such asset as computed without giving effect to the first and second proviso to section 48;]]
8[(d)] in any other case 9[of a resident],—
(i) the amount of income-tax payable on the total income as reduced by the amount of
long-term capital gains, had the total income as so reduced been its total income; and
(ii) the amount of income-tax calculated on such long-term capital gains at the rate of
10[twenty per cent.; and]
1. Ins. by Act 18 of 1992, s. 53 (w.e.f. 11993). Earlier section 112 was omitted by 20 of 1967, s. 33 and the Third
Schedule (w.e.f. 11968)
Where the total income of an assessee includes any
income, arising from the transfer of a long-term capital asset, which is chargeable under the head “Capital
gains”, the tax payable by the assessee on the total income shall be the aggregate of,—
in the case of an individual or a Hindu undivided family, 2[being a resident,]—
the amount of income-tax payable on the total income as reduced by the amount of such
long-term capital gains, had the total income as so reduced been his total income; and
the amount of income-tax calculated on such long-term capital gains at the rate of twenty
per cent.:
Provided that where the total income as reduced by such long-term capital gains is below the
maximum amount which is not chargeable to income-tax, then, such long-term capital gains shall
be reduced by the amount by which the total income as so reduced falls short of the maximum
amount which is not chargeable to income-tax and the tax on the balance of such long-term
capital gains shall be computed at the rate of twenty per cent.;
in the case of a 3[domestic company],—
the amount of income-tax payable on the total income as reduced by the amount of such
long-term capital gains, had the total income as so reduced been its total income; and
the amount of income-tax calculated on such long-term capital gains at the rate of
4[twenty per cent.]:
5* * * * *
2[
in the case of a non-resident (not being a company) or a foreign company,—
the amount of income-tax payable on the total income as reduced by the amount of such
long-term capital gains, had the total income as so reduced been its total income; and
6[
the amount of income-tax calculated on long-term capital gains [except where such gain
arises from transfer of capital asset referred to in sub-clause
the amount of income-tax on long-term capital gains arising from the transfer of a capital
asset, being 7[unlisted securities or shares of a company not being a company in which the public
are substantially interested], calculated at the rate of ten per cent. on the capital gains in respect of
such asset as computed without giving effect to the first and second proviso to section 48;]]
8[
the amount of income-tax payable on the total income as reduced by the amount of
long-term capital gains, had the total income as so reduced been its total income; and
the amount of income-tax calculated on such long-term capital gains at the rate of
10[twenty per cent.; and]
1. Ins. by Act 18 of 1992, s. 53 (w.e.f. 11993). Earlier section 112 was omitted by 20 of 1967, s. 33 and the Third
Schedule (w.e.f. 11968)