FM announces withdrawal of enhanced surcharge on capital gains from equity for individuals, HUFs – The Economic Times

  • Press Release|
  • < 1 minute
  • By Taxmann
  • |
  • Last Updated on 28 October, 2020

20th September, 2019 Chartered Accountant Naveen Wadhwa, DGM, says: The FM has announced withdrawal of enhanced surcharge on income from specified securities. Due to announcement of this announcement, the increased rate of surcharge, i.e., 25% or 37% shall not be levied only on income arising from sale of listed equity share or listed units of an equity oriented mutual fund or listed units of a business trust. Further, the enhanced surcharge shall also not apply to capital gains arising on sale of any security including derivatives, in the hands of Foreign Portfolio Investors (FPIs). The decision to withdraw the enhanced surcharge is a welcome step as it will definitely control the selling spree of FPIs and attract more investment into capital market.However, the Government has withdrawn levy of enhanced surcharge only from tax payable on capital gains arising from transfer of specified asset. Thus, enhanced surcharge will continue to be levied in respect of other income earned by a taxpayer such as dividend, interest, capital gain from non-specified assets etc.” Read the full article here: FM announces withdrawal of enhanced surcharge on capital gains from equity for individuals, HUFs, Taxmann

Disclaimer: The content/information published on the website is only for general information of the user and shall not be construed as legal advice. While the Taxmann has exercised reasonable efforts to ensure the veracity of information/content published, Taxmann shall be under no liability in any manner whatsoever for incorrect information, if any.

Comments are closed.

Everything on Tax and Corporate Laws of India

To subscribe to our weekly newsletter please log in/register on

Author: Taxmann

Taxmann Publications has a dedicated in-house Research & Editorial Team. This team consists of a team of Chartered Accountants, Company Secretaries, and Lawyers. This team works under the guidance and supervision of editor-in-chief Mr Rakesh Bhargava.

The Research and Editorial Team is responsible for developing reliable and accurate content for the readers. The team follows the six-sigma approach to achieve the benchmark of zero error in its publications and research platforms. The team ensures that the following publication guidelines are thoroughly followed while developing the content:

  • The statutory material is obtained only from the authorized and reliable sources
  • All the latest developments in the judicial and legislative fields are covered
  • Prepare the analytical write-ups on current, controversial, and important issues to help the readers to understand the concept and its implications
  • Every content published by Taxmann is complete, accurate and lucid
  • All evidence-based statements are supported with proper reference to Section, Circular No., Notification No. or citations
  • The golden rules of grammar, style and consistency are thoroughly followed
  • Font and size that's easy to read and remain consistent across all imprint and digital publications are applied