31-Jan-2018: LTCG tax introduced on equity (stock & mutual fund). First 1 lac is tax exempted. More...
Before 1-Feb-2021: ULIP is taxed(LTCG 10% for equity and 20% for debt) if annual premium is more than 10% of SA. More...
1-Feb-2021: Annual aggregate premium on ULIP above 2.5lacs will be taxed (or) annual premium is more than 10% of sum assured.
1-Apr-2020: Annual employee contribution to EPF, NPS & Superannuation above 7.5lacs will be taxed.
1-Apr-2022: Annual employee contribution to EPF above 2.5lacs will be taxed.
1-Apr-2023: No tax benefit on debt funds whether STCG or LTCG.
1-Jul-2023: Tax on foreign remittances to 20 per cent from July 1, as against 5 per cent earlier. However, spends of up to ₹7 lakh per financial year will be exempt from such tax.
23-Jul-2024:
- Standard Deduction amount raised to ₹75,000
- Short term capital gain tax revised to 20% while long term capital gain tax raised to 12.5% on Financial assets
- STT (Security Transaction Tax) on derivatives raised to to 0.02%
- With the rationalisation of rate to 12.5%, indexation available under
second proviso to Section 48 is proposed to be removed for calculation
of any long-term capital gains, which is presently available for
property, gold, and other unlisted assets.
Short-Term Capital Gains (STCG) on Equity Mutual Funds (units held ≤12 months):
Long-Term Capital Gains (LTCG) on Equity Mutual Funds (units held >12 months):
Taxed at 12.5% (previously 10%) on gains exceeding ₹1.25 lakh (previously ₹1 lakh) per annum, without any indexation benefit
NPS:
