On 4 February 2018, the Central Board of Direct Taxes (CBDT) has published Frequently Asked Questions (FAQs) on the introduction of a 10% tax on long-term capital gains (LTCG).
The CBDT has issued a detailed FAQ and it addressed numerous questions relating to the method for calculation of long-term capital gains, the cost of acquisition, the fair market value, availability of inflation index, TDS obligations etc. The CBDT has also clarified the law applicable to capital gains earned by Foreign Institutional Investors.
