Hi,

In the current framework of the Indian Income Tax Act, there isn’t a broad exemption for capital gains under Section 10. In the past, there was an exemption for certain long-term capital gains on the sale of listed equity shares (under what was formerly known as Section 10(38)), but that benefit was withdrawn a few years back with subsequent amendments.

Today, capital gains—whether short-term or long-term—are generally taxed according to the provisions specific to capital gains (such as under Sections 112A for equity and the rules applicable to real estate, debt funds, gold, etc.). However, there are specific reliefs available when you reinvest your gains in a new asset (like under Sections 54, 54EC, or 54F), but these are separate from any exemptions that might have been provided under Section 10.

In short, under the current law, you won’t find a provision in Section 10 that exempts capital gains outright.