Budget 2024: Capital Gains Tax Revised | Short-term, Long-term Capital Gains Tax Hiked

Finance Minister Nirmala Sitharaman, on Tuesday, announced several key tax changes impacting capital gains and trading activities.

The tax rate on long-term capital gains for all financial and non-financial assets will rise from 10% to 12.5%. The tax rate on short-term gains from certain financial assets will increase from 15% to 20%.

Watch to know what she said.

0:00 - Capital Gains Tax

Mint is an Indian financial daily newspaper published by HT Media. The Mint YT Channel brings you cutting edge analysis of the latest business news and financial news. With in-depth market coverage, explainers and expert opinions, we break down and simplify business news for you.

Click here to download the Mint App

[SamruddhiMore-xbsu]

FET और NVDA66K को साझा करने के लिए धन्यवाद 💯

[villages]

It keeps getting harder to live. I think giving up salary job and going back to village to do farming is better. Wasting life away in this 9-5 job, 6 days a week is the worst decision you will ever make. We are just labours for billionaires to become more and more rich.

[baburajan]

The tax of 10% on capital gains itself was a huge blow to investors. Now the government dealt another death blow to finish off investors forever!!

[yankgod]

TAX ON CAPITAL GAINS INCREASED TO FUND UNHOLY BJP ALLY STATES OF BIHAR AND ANDHRA IN LIEU OF SPECIAL STATUS, BESHARAM BJP GOVT.

[nprajan]

This is not acceptable. Actually capital gain tax has to be reduced from the current rate...

[Sgn]

Taxing the hard earned money of the middle class. High time to bring a new FM. FM and PM don't like middle class. They want pull them to the poor class.😢

[jeanniemaycrawford]

My mom sold some of her gold for an emergency because my dad needed to go to.the hospital.

She has to pay 20% tax for the money she got for HER gold that she paid tax for

The government is literally taxing the same income multiple times

[traderpsingh]

Middle class will die under BJP, why kept kept taxes so low, let them bring it to 50-60%, let only 2% tax payers pull burden on whole country.. She is slautering golden goose to take all golden eggs in a day... See what She did to Capital gain tax... I regret each day of my job because I know my taxes are being used by everyone except middle class and people like me...

[muthukumaransadasivam]

Capital gains tax should be reduced.Time should be one year not 2 years.nil tax should be there.

[sidd]

Waste government taxing ltcg so we can’t retire

[srirams]

Indexation removed. Huge increase in long term capital gains on selling old properties

[allactivity]

Take tax from common man and spend all in Bihar and Andhra pradesh, Rest all states can get lollipop.

[jeanniemaycrawford]

I genuinely hate how governments find it acceptable to redistribute our wealth

[MrAfzalaziz]

Key Highlights of Direct Tax in Budget 2024

1. Overhaul of Capital Gains Taxes

- Short Term Capital Gains to be taxed at 20% on all financial assets (w.e.f. 23.07.2024)
- Short Term Capital Gain on all other other assets it remains as it was (w.e.f. 23.07.2024)
- Long Term Capital Gains to be taxed at 12.5% on all assets (w.e.f. 23.07.2024)
- Exemption on LTCG u/s 112A to be increased to ₹1, 25, 000 (w.e.f. 23.07.2024)

2. Standard Deduction Increased from 50, 000 to 75, 000 under New Tax Regime

3. Security Transaction Tax on Future and Options & Securities to be increased 0.02 % and 0.01 % respectively

4. TDS u/s 194T for Remuneration paid to Partners of Partnership Firm of more than ₹20, 000 at rate of 10%

5. Changes in Slab Rates under New Tax Regime
₹ 0 - 3, 00, 000 - Nil
₹ 3, 00, 000 - 7, 00, 000 - 5%
₹ 7, 00, 000 - 10, 00, 000 - 10%
₹ 10, 00, 000 - 12, 00, 000 - 15%
₹ 12, 00, 000 - 15, 00, 000 - 20%
Above ₹ 15, 00, 000- 30%

[MK-dpcm]

Good decision....I was expecting LTCG to increase to 20% but Nirmala only increase it up to 12.5%

[AmiyaKumarHotta]

This governments motto is to be in power so given special status to Bihar and AP. Time to show exit to BJP government

[Professionaladvisorandcoach]

Useless and fractured, Self Gaga govt.

[chandrasekhar]

1.25L exemption on LTCG, for old plot sale ( not flat ) is there ?

if we get 3 lakhs profit after selling a 15 year old plot, then the LTCG to paid on 1.75L only ?
Then tax will be 21, 875 rs ?

[vgvg]

BJP will realize its mistake after next elections. Even core/committed BJP voters are angry with changes in capital gains tax

[siddhartha_bikashsinha]

Modi decided to make middle class to leave bjp