Budget 2024: FM Nirmala Sitharaman Announces Immediate Hike in Short and Long Term Capital Gains Tax Rates

On July 23, Finance Minister Nirmala Sitharaman announced significant revisions to personal income tax rates under the new tax regime during the presentation of the Annual Budget 2024 in Lok Sabha. The new tax slabs are designed to provide relief to taxpayers and simplify the tax structure: no tax will be levied on annual incomes up to ₹3 lakh; a 5% tax will apply to incomes between ₹3 lakh and ₹7 lakh; a 10% tax for incomes between ₹7 lakh and ₹10 lakh; and a 15% tax for incomes between ₹10 lakh and ₹12 lakh. These changes aim to benefit a broad section of taxpayers and enhance the overall ease of compliance. #BudgetWithOneindia #NirmalaSitharaman #IncomeTax #PersonalIncomeTaxSlabs #NewTaxSlab #IncomeTaxSlabsAnnounced #PMModi #PMModiHailsUnionBudget #PMModiHailsBudget2024 #UnionBudget2024 #NirmalaSitharaman #IndianEconomy #BudgetSpeech #PMModi #EconomicSurvey #FinanceMinister #ParliamentSession #HistoricBudget ~PR.152~ED.102~HT.334~

Sitharaman announced that short-term capital gains on "specified" financial assets will henceforth attract a tax rate of 20 per cent instead of 15 per cent....

Long-term gains on all financial and non-financial assets, on the other hand, will attract a tax rate of 12.5 per cent, announced Finance Minister Nirmala...