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of <h1>Finance Bill 2024 amends Section 115AD: New tax rates for FIIs on capital gains under Sections 111A and 112A.</h1> Clause 36 of the Finance (No. 2) Bill, 2024, amends section 115AD of the Income-tax Act, affecting tax rates on capital gains for Foreign Institutional Investors. For short-term capital gains under section 111A, the tax rate is set at 15% for transfers before July 23, 2024, and 20% thereafter. For long-term capital gains exceeding 1,25,000 under section 112A, the rate is 10% for transfers before July 23, 2024, and 12.5% after. The 1,25,000 threshold applies to the total long-term capital gains. These changes are effective retrospectively from July 23, 2024.
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