We have tried to create a simple summary for the capital gains on commonly held securities. Bear in mind that this is just for reference and there may be additional conditions/ provisions for each asset type.
For tax implications on foreign stocks, click here.
Points to Remember:
STT paid on sale of shares is not an allowable deduction.
Long term capital gains tax exemption benefit is limited to Equity shares and Equity oriented mutual funds.
Capital gains on shares is calculated on the first-in-first out basis (FIFO).