What are Corporate Tax & Capital Gain Tax?
This tax is imposed on the profits of companies or organizations. It is also depend on the profits shared to the shareholders. Currently 33.9 % corporate tax is levied on the companies. But in Direct Tax Code, which is proposed to be implemented from 1 April 2012, it is proposed to be at 30%.
Capital Gain Tax
This tax is levied on the sale of capital assets/equities. The “Gain” here means the difference of price of asset/share when purchased and when sold. The tax is levied on that gain. For the Capital Assets the time limit is minimum three years but in the context of equities it is minimum one year.
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