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Rate of short term capital gain and long term capital in case of slump sale
what is the rate of short term and long-term capital gain in case of slump sale u/s 50 B.
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Hi
As per Section 50B, in case of Long term Capital Gain on slump sale, tax @ 20% shall be charged in addition to education cess @ 3%.
and in case of Short term Capital Gain on slump sale, tax @ 30% shall be charged in addition to education cess @ 3%.
Also, in case of Domestic Companies:
surcharge @ 7% is applicable in case taxable income is more than 1 crore but less than 10 crores
surcharge @ 12% is applicable in case taxable income is more than 10 crore.
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