BUDGET 2024

Long-term cap gains on all financial & non-financial instruments will attract 12.5% (before 10%) 

STCG Increased to 20% (from 15%)  

🔸Limit of long-term cap tax gains exemption hiked to Rs 1.25 lakh from Rs 1 lakh.

🔸Listed financial assets held for more than 1 year will be long term.

🔸Long-term capital gains tax increased to 12.5% from 10%

2 changes in the New Tax Regime

🔸Standard deduction to be increased from Rs 50,000 to Rs 75,000

🔸New Tax Slabs

Rs 0-3 lakhs : Nil

Rs 3-7 lakhs : 5%

Rs 7-10 lakhs : 10%

Rs 10-12 lakhs : 15%

Rs 12-15 lakhs : 20%

Above 15 lakhs : 30%

Security Transaction Tax on F&O increased to 0.02% from 0.01% 

the customs duty on gold and silver will be reduced to 6%, while the duty on platinum will be lowered to 6.4%.