Budget 2024: From capital gains tax rates to securities transaction hike, key changes market participants need to know
Finance Minister Nirmala Sitharaman announced a number of changes applicable to market participants, including an increase in the securities transaction tax (STT) on futures and options (F&O) trades. She also announced a 250 bps increase in the long-term capital gains (LTCG) tax applicable to financial as well as non-financial assets to 12.5 per cent while proposing a 20 per cent short-term capital gains (STCG) tax on select financial assets. In some relief to the investor, however, the Budget proposed an increased limit for the exemption of capital gains on select financial assets to Rs 1.25 lakh per financial year, instead of the current Rs 1 lakh.
![Budget 2024: From capital gains tax rates to securities transaction hike, key changes market participants need to know](https://cdn.zeebiz.com/sites/default/files/2024/07/23/306404-tradingpexels.jpg?im=FitAndFill=(1200,900))
The finance minister announced a hike in STT. | Representational image | Image: Pexels