The Union Budget 2024, presented in July this year, introduced some major changes to the tax rules for mutual fund investments, impacting both short-term and long-term capital gains. Investors selling mutual fund units within a year will now face a higher tax rate on their profits. For those holding investments for over a year, the tax on long-term capital gains has slightly increased. However, small investors will benefit from a raised tax-free limit on long-term capital gains, now set at Rs 1.25 lakh.
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