(1) For a resident with capital gains, 2,500,000 won per year shall be deducted from each of the following incomes, out of the capital gains for the relevant taxable period: <Amended by Act No. 12852, Dec. 23, 2014; Dec. 29, 2020>
1. Income under Article 94 (1) 1, 2 and 4: Provided, That this shall not apply to the amount of capital gains of the assets transferred without registration pursuant to Article 104 (3);
2. Deleted; <Dec. 29, 2020>
3. Deleted; <Dec. 29, 2020>
4. Income under Article 94 (1) 6.
(2) In applying paragraph (1), where the amount of income reduced or exempted under this Act, the Restriction of Special Taxation Act, or other Acts is included in capital gains under Article 95, 2.5 million a year shall be deducted from capital gains, other than such amount of income already reduced or exempted, and shall be deducted beginning with the amount of capital gains of assets transferred first in the relevant taxable period in order, among the amount of capital gains, other than the amount of income reduced or exempted.
(3) Deduction pursuant to paragraph (1) shall be referred to as "basic deduction for capital gains".[This Article Wholly Amended by Act No. 9897, Dec. 31, 2009][Enforcement Date: Jan. 1, 2025] Article 103 (1) 2 and 3