Union Budget 2024-25: Major Updates to Capital Gains Tax with New Long-Term Rates and Increased Exemption Limits
New Delhi: The Union Budget 2024-25, presented by Union Finance and Corporate Affairs Minister Nirmala Sitharaman, has introduced significant changes to the Capital Gains Tax framework, aiming to simplify and rationalize the tax structure. Under the new proposal, short-term gains on certain financial assets will be taxed at a flat rate of 20%. This change…