Union Budget 2024 Long term short term capital gains tax securities transaction tax buyback proposals in July 23 Budget explained

In her historic seventh back-to-back Finances presentation, Finance Minister Nirmala Sitharaman on July 23 introduced a variety of modifications relevant to market contributors, together with a rise within the securities transaction tax (STT) relevant to futures and choices (F&O) trades with impact from October 1. She additionally introduced a 250 bps enhance within the long-term capital features (LTCG) tax relevant to monetary in addition to non-financial belongings to 12.5 per cent whereas proposing a 20 per cent short-term capital features (STCG) tax on choose monetary belongings. In some aid to the investor, nevertheless, the Finances proposed an elevated restrict for the exemption of capital features on choose monetary belongings to Rs 1.25 lakh per monetary 12 months, as an alternative of the present Rs 1 lakh.

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