Short Term Capital Gains Tax 2024. The budget 2024 reduced tax rate on long term capital gains to 12.5% from 20% and removed the benefit of indexation. The long term capital gains (ltcg) tax will rise from 10% to 12.5%, and the short term capital gains (stcg) tax on certain assets will increase from 15% to 20%.
The new budget simplifies this by setting two uniform holding periods: A later amendment of the ltcg tax rule allowed people to choose between two.