During the presentation of Union Budget 2024, Finance Minister Nirmala Sitharaman addressed the new 12.5% tax rate on long-term capital gains, highlighting its role in simplifying the tax system and encouraging investment. Sitharaman explained that the government aimed to streamline capital gains taxation. She noted that the new rate of 12.5% represents a reduction from the previous average tax burden across various asset classes, which she argued would stimulate market investments. Union Budget 2024: INR 1.48 Lakh Crore for Education, Employment and Skilling of Youth.

FM Nirmala Sitharaman Justifies 12.5% Tax on Long-Term Capital Gains

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