Comparison between Section 112 & 112A

 The similarity between Section 112 and Section 112A of Income Tax Act, 1961.

Both sections covers following

1.    Long Term Capital Asset:- Equity share in a company Unit of Equity Oriented Fund Unit of a business trust

2.    Both sections determine tax on long term capital gains and falls under chapter XII of the Income Tax Act, 1961.

3.    First proviso in both the sections is same which is related to benefit of slab rate in case of Individual and HUF,  being a resident.

4.    Deductions under Chapter-VIA are not available in both sections.

5.    Both sections have one common tax rate @ 10% subject to fulfilment of conditions specified therein

Difference between Section 112 and Section 112A of Income Tax Act, 1961

SN	Particulars	Section 112A	Section 112A
1	Type	Cover all securities	Cover only equity shares, Mutual Fund & business trust
2	STT Payment	Not required	Mandatory
3	Tax Rate	10% without indexation or 20% with indexation  -  whichever is beneficial.	10% in excess of onel lakh capital gain.