Income-tax Act, 1961

Section - 112 - Tax on long-term capital gains

Tax on long-term capital gains.

112. (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,-

¹⁹[(a)

in the case of an individual or a Hindu undivided family, 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,-

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