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of <h1>Section 115AC Amended: Long-term Capital Gains Tax Rates Set at 10% Before, 12.5% After July 23, 2024.</h1> Section 115AC of the Income-tax Act has been amended by the Finance (No. 2) Act, 2024. In sub-section (1), clause (ii) has been replaced to specify the tax rates on long-term capital gains. For transfers occurring before July 23, 2024, the tax rate is set at 10%. For transfers on or after July 23, 2024, the tax rate increases to 12.5%. This amendment is effective from July 23, 2024.
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