Union Budget 2024: Long Term Capital Gains Tax Hiked To 12%

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LTCG on all assets now taxed at 12.5%, covering both financial and non-financial assets, as per the new Budget announcement.

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Exemption limit for capital gains is now INR 1.25 Lakh per year, aimed at benefiting lower and middle income classes.

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Listed financial assets held for over a year will be classified as long-term assets, ensuring uniformity in asset classification.

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Short-term gains on some financial assets will be taxed at 20% instead of 15%, with no change for other assets

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Unlisted bonds, debentures, and debt mutual funds to be taxed on capital gains regardless of holding period, including market-linked debentures.

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Stock options, considered part of salary and taxed under Income Tax Act of 1961, will directly affect startups under new rules.

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Follow the Union Budget For Startups With Inc42

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Budget 2024: FM Hikes Long Term Capital Gains Tax Rate To 12.5%

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