Surcharge on long-term capital gain
The Finance Bill proposes that the rate of surcharge on long-term capital gain shall not exceed 15%. Earlier, this benefit was available only in respect of long-term capital gain arising from the transfer of listed equity shares, equity-oriented mutual funds and units of business trust. Now the surcharge rate cannot exceed 15% in respect of long-term capital gain arising from the transfer of any capital asset.
Surcharge rate in case of AOP
In case of an Association of Persons (AOP) consisting of only companies as its members, the surcharge rate on the amount of Income-tax shall not exceed 15%. Thus, for AY 2023-24, the rate of surcharge in case of such AOPs shall be as follows:
