Capital gains tax rejig: Finance Minister explains Modi 3.0 govt's rationale

Budget 2024: The Union Budget saw Finance Minister Nirmala Sitharaman announce a new capital gains tax structure, claiming it would benefit most people by removing indexation. The long-term capital gains tax on property and gold was reduced from 20% to 12.5%. The changes aimed to simplify the tax regime and rationalize rates across different asset classes.