Are different rates to be applied for short term capital gains and long term capital gains?
Yes, as discussed above short term capital gains will be included along with other heads of income and taxed at the applicable slab of tax rate relevant for the assessment year. Long term capital gain will be subject to tax rate of 10%(plus applicable surcharge) if indexation benefit is not taken and at a tax rate of 20%(plus applicable surcharge) if indexation benefit is taken.
