Archive · 23 Jul 2025
Capital Gains Tax: July 23, 2024 Cut-Off Date Explained
Imagine you sold something like a house or stocks.
The government taxes the profit you made, called capital gains.
Big changes happened on July 23, 2024.
Now, how much tax you pay depends on when you sold your stuff.
If you sold before that date, older rules apply.
If you sold after, there's a new, simpler tax.
You'll report your sales on your tax form (ITR-2) separately based on the date of sale.
This change affects how you plan your investments and taxes.
Capital gains tax rules changed significantly on July 23, 2024.
New tax regime includes a flat 12.5% tax on long-term capital gains for many assets.
Holding periods for long-term assets are now one year for listed securities and two years for others.
ITR-2 form for 2025-26 requires separate reporting of capital gains based on the July 23, 2024 cut-off date.
The government aimed to simplify the tax structure, but indexation benefits were removed for many investors.
- Who
- Taxpayers and the Indian government.
- What
- Changes to capital gains tax, affecting how investments and profits are taxed.
- When
- Implemented on July 23, 2024.
- Where
- India
- Why
- To simplify and rationalize the tax structure on capital gains.
Taxpayers
Government
Indexation and Choice of Tax Regime
Taxpayers
Loss of indexation benefits for those who invested for a long time.
Government
Benefit of choosing the old or new tax system for properties sold after the cut-off date if they bought it earlier.
- Effective Date
- July 23, 2024
- Long-Term Capital Gains Tax Rate
- 12.5%
- Listed Securities Holding Period
- 1 year for long-term
- Other Assets Holding Period
- 2 years for long-term
- ITR Form Affected
- ITR-2 (for assessment year 2025-26)
- Exemption on financial assets
- ₹1.25 lakh on certain listed financial assets
