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<h1>Long-term capital gains tax applies revised rates and special category rules for residents, non-residents, companies and listed assets.</h1> Long-term capital gains are taxed by separating tax into (i) tax on total income excluding such gains and (ii) tax on the gains themselves; different taxpayer categories and asset types attract specified rates with transitional rates for transfers before and on or after 23rd July 2024, subject to provisos that reduce gains where the remainder falls below the non-taxable threshold, ignore excess tax for certain pre-amendment land/building transfers, and cap excess tax for listed securities, specified mutual fund units and zero coupon bonds. Gross total income for Chapter VI-A deductions is reduced by long-term capital gains.
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