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of <h1>Tax Rate on Long-Term Capital Gains Over INR 125,000 Increased to 12.5% per Section 112A, Effective July 23, 2024.</h1> Section 112A of the Income-tax Act has been amended to modify the tax rates on long-term capital gains exceeding INR 125,000. For transfers occurring before July 23, 2024, the tax rate is set at 10%. For transfers on or after this date, the rate increases to 12.5%. The INR 125,000 threshold applies to the aggregate of long-term capital gains for both timeframes. This amendment is effective from July 23, 2024, as per the Finance (No. 2) Act, 2024.
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