Finance Minister Nirmala Sitharaman Tuesday announced an increase of tax rate on long-term gains over listed equity share and equity oriented mutual funds from 10 per cent to 12.5 per cent, with an exemption limit raised from 1 lakh to 1.25 lakh. For other long-term capital assets such as gold, property, which used to be taxed at 20 per cent with indexation, the tax rate has been cut to 12.5 per cent while removing indexation.
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