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STT: Securities transaction tax; DDT: Dividend distribution tax; STCG:
Short-term capital gains; LTCG: Long-term capital gains; Ulips:
Unitlinked insurance plans Tax rates given here are not inclusive of
surcharge. If the total income of non individual exceeds Rs1 crore,
surchage @ 10% would be applicable. The slab rates applicable would need
to be increased by education cess of 3% 1LTCG tax rate is 10.3% without
indexation benefits and 20.6% with indexation benefits; 2Bonds qualify
as securities under the Securities Contracts (Regulation) Act, 1956; 3If
54EC bonds are transferred within 3 years of acquisition, then capital
gains that was originally exempt will be taxed for LTCG; 4If 54EC bonds
qualify as capital indexed bonds issued by the Government of India then
LTCG will be taxed at 20.6% (with indexation); 5In the National Savings
Certificate, the amount of interest allowed for tax deduction under
section 80C is Rs 150,000; 6Payable by the seller at redemption or
switch when selling to mutual fund; 7Post-Finance (No.2) Bill, 2014, the
units of debt oriented funds, would be considered as a long-term
capital asset if held for more than 3 years. Prior to this Finance Bill,
these units were considered as long-term if held for more than 1 year;
8Withdrawals from National Pension System on maturity are tax free up to
40% of total corpus accumulated.; 9Any sum received under a life
insurance policy (including bonus) is tax exempt provided premium for
any year during policy term does not exceed 10% of sum assured;
10Transfer of Sovereign Gold Bonds under the Sovereign Gold Bond Scheme,
2015, by way of redemption, is tax exempt. If transfer is made before
redemption, LTCG is taxed at 20.6% with indexation and 10.3% (without
indexation) in case of listed bonds; 11A guardian can open only one
account in the name of one girl child and maximum two accounts in the
name of two different girl children. Source: Mint research
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