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of <h1>Law splits tax: non-LTCG taxed normally, LTCG taxed at 12.5% with transitional cap and s.72(6) carve-out</h1> Clause mandates bifurcated taxation: tax non-LTCG at normal rates and LTCG at 12.5%, with resident individuals/HUFs allowed to reduce LTCG to preserve the basic exemption and a transitional cap for land/building acquired before 23 July 2024 by comparing 12.5% treatment with a 20% indexed-cost computation. The enacted Act reorganizes subsections, adds a new carve-out treating LTCG from unlisted/private-company shares for non-residents/foreign companies without applying set-off under section 72(6), and omits an explanatory note from the Bill excluding certain equity assets; otherwise definitions and substantive reliefs are substantively similar.
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