Budget 2024: Exemption Limit On Long-Term Capital Gains Raised To Rs 1.25 Lakh

Finance Minister Nirmala Sitharaman announced in her Budget speech that Capital Gains Taxation will be hugely simplified/

"Short-term gains on certain financial assets will henceforth attract a tax rate of 20 per cent while that on all other financial and non-financial assets shall continue to attract the applicable tax rate," she explained.

She elaborated that listed financial assets are classified as long-term, while unlisted financial assets and other non-financial assets will have to be held for at least two years to be classified as long-term.