Tax alert: India Budget 2024: Changes to capital gains

22 August 2024

The Finance Minister of India presented the Finance (No. 2) Bill, 2024 on 23 July 2024 proposing changes, amongst others, to the tax laws. The Finance (No. 2) Bill, 2024 and the subsequent proposed amendments received the assent of the president on 16 August 2024. The personal income-tax changes aim to lower the rates under the new regime, simplify capital gains rules and reduce litigation.