Long-term capital gains tax rate revised, imposing a higher rate for transfers on or after the amendment's effective date. The amendment substitutes clause (ii) in section 115E to prescribe differential tax rates for income by way of long-term capital gains included in total ... Summary
Long-term capital gains tax rate revised, imposing a higher rate for transfers on or after the amendment's effective date.
The amendment substitutes clause (ii) in section 115E to prescribe differential tax rates for income by way of long-term capital gains included in total income, deeming the substitution effective from 23 July 2024, and applying a lower rate for transfers before that date and a higher rate for transfers on or after that date.
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