Rollback on surcharge on capital gain
During the July Parliament session, surcharge rates were enhanced for individuals with high net worth, specifically those whose income exceeds Rs. 2 Crore. This resulted in withdrawal of foreign investment in huge numbers in the market.
To enable future investment opportunities and help bring down the economical tension, the enhanced surcharge rule has been rolled back. Thus currently, the surcharge on long/short term Rollback on Surcharge on Capital Gain capital gains, arising from the transfer of equity shares/units referred to in section 111A and 112A respectively of the Income Tax Act, will not be applicable.