I-T Dept Issues FAQs on LTCG Tax Levy only on shares sold after April 1, 2018 The income tax department has issued a set of frequently asked questions (FAQs) to clear doubts about the long-term capital gains tax levied on shares in the budget, clearly providing that the tax will be levied on shares sold after April 1, 2018. "The new tax regime will be applicable to transfer made on or after 1st April, 2018, the transfer made between 1st February, 2018 and 31st March, 2018 will be eligible for exemption under clause (38) of section 10 of the Act," it said. There had been confusion that the regime will apply to shares sold on or after February 1, the day of the budget. This also means there could be pressure on stock prices as investors sell shares to take advantage of the earlier regime till March 31. By the same reasoning, the long-term capital loss arising from transfer made on or after April 1, 2018 will be allowed to be set-off and carried forward in accordance w