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of <h1>Income Tax Act Section 115E amended: Long-term capital gains tax rate rises from 10% to 12.5% post-July 23, 2024.</h1> Section 115E of the Income-tax Act has been amended by the Finance (No. 2) Act, 2024. The amendment modifies clause (ii) to specify the income-tax rate 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 rate increases to 12.5%. This change is effective from July 23, 2024.
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