In Budget 2024, finance minister Nirmala Sitharaman proposes changes to the capital gains taxation regime. Short-term gains on listed equity will be taxed at 20%, while long-term gains on all financial and non-financial assets will be taxed at 12.5%. The tax rate for listed equity will increase by 2.5%, while other assets will be taxed by 7.5%. The exemption limit for capital gains on listed equity and equity-oriented mutual funds will be increased to Rs 1.25 lakh per year.
the capital gains exemption ceiling for equities was raised to Rs 1.25 lakh; the STCG tax rate was raised to 20%, and the LTCG was made to 12.5% for all assets. The following adjustments to the capital gains taxes system have been proposed by Finance Minister Nirmala Sitharaman for Budget 2024: LTCG in Budget 2024: A person may realize capital gains or losses when they sell a capital asset in accordance with income tax regulations. 1. The tax rate on short-term gains on listed equity will increase to 20% from the existing 15%, while the applicable tax rate will still apply to gains on all other financial and non-financial assets.
