Answer

1. F

   Facts

   Every asset class, holding period, tax rate, and exemption, post Budget 2024 changes effective July 23 2024. The rate changes are the most significant in a decade. Know your asset, know your rate before you sell.

2. P

   Provisions and law

   • Sec 67 (old 45)
   • Sec 196 (old 111A)
   • Sec 198 (old 112A)
   • Sec 197 (old 112)
3. A

   Analysis

   BUDGET 2024 KEY CHANGES (Jul 23, 2024): LTCG on equity: 10% → 12.5%. STCG on equity: 15% → 20%. Exemption limit: ₹1L → ₹1.25L (LTCG equity only). Property LTCG: indexation removed for new purchases (but taxpayer can choose 12.5% without indexation OR 20% with indexation, pick whichever is lower for pre-Jul 2024 purchases). Holding period, what is "long term": Equity shares / equity MF: 12 months. Property / unlisted shares: 24 months. Debt MF / bonds / gold (physical): 24 months (now irrelevant since slab rate applies). SGB: held to maturity (8 years) = FULLY exempt. STT (Securities Transaction Tax): Equity LTCG and STCG at concessional rates (12.5%/20%) apply ONLY if STT was paid at time of sale (i.e. sold on a recognised stock exchange). Off-market equity sale without STT → slab rate, not 12.5%/20%.

4. C

   Conclusion

   1. 1Identify every capital asset sold or redeemed in the financial year
   2. 2For each asset: determine purchase date, purchase price, sale date, sale price
   3. 3Calculate holding period, is it LTCG or STCG?
   4. 4Apply correct rate: equity LTCG 12.5% (above ₹1.25L), equity STCG 20%, property LTCG 12.5% / 20% with indexation (choose lower), debt MF slab, crypto 30%
   5. 5Check if any exemption applies: Sec 82, Income-tax Act 2025 (old Sec 54; property to property), Sec 85 (old Sec 54EC; bonds), Sec 86 (old Sec 54F; other asset to property)
   6. 6Download capital gains statement from CAMS / KFintech for MF

General guidance from TaxSavvy’s library of money processes. Laws change; your Savvy confirms the answer on your exact case before anything is filed.