Capital gain tax

Rajgopal,

Sec 112 is applicable to all type of assessee whether indian company or others, It only prescribes that LTCG will be chargeable to tax @ 20% and provides treatment in case Total Income excluding LTCG is less than Maximum amount which is not chargeable to Tax.

As far as Sec 10(38) is concern, it exempt capital gain arising from transfer of LTCA which is listed securities and chargeable to STT,

Combined study when 10(38) become effective sec 112 has no implication because income exempt u/s 10 is not a form part of total income.

Hope this will clear you doubt,

Agree with Mr Prabhakar Jha