"In the first year (2018-19), we will get Rs 20,000 crore (from long term capital gain tax) because we have grandfathered. Next year (2019-20) onwards, it would be about Rs 40,000 crore," he said.Currently, 15 per cent tax is levied on capital gains made on sale of shares within a year of purchase. However, LTCG tax is nil for shares sold after a year of purchase.From April 1, start of the new financial year, LTCG gains exceeding Rs 1 lakh will be subject to 10 per cent tax.Adhia said: "This is the first year when we started asking for reports on this. We have got startling Rs 3.76 lakh crore being reported as exempted income. Just imagine you as salaried class would have earned this much income, you pay 30 per cent tax for your toil.

Source: Economic Times February 04, 2018 11:03 UTC