Budget 2024: Long-term capital gains tax hiked, exemption limit raised
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Finance Minister Nirmala Sitharaman has proposed several modifications to the capital gains taxation regime, in Union Budget 2024. The changes include a new 20% tax rate on short-term capital gains (STCG) on certain assets. Taxes on long-term capital gains (LTCG) have been increased to 12.5%, up from 10%. Finally, the limit for capital gains exemption has been raised from ₹1 lakh to ₹1.25 lakh per year.