taxaaram taxaaram 
The much-awaited Union Budget 2024-25 has been presented by our hon’ble Finance Minister Smt. Nirmala Sitharaman today on 23rd July 2024, before the Parliament. The budget speech of FM highlighted some very welcome budget amendments in the direct tax domain. However, the Fine Print of the Finance (No.2) Bill, 2024, revealed some additional very significant and critical budget amendments in the direct tax domain, which are being analysed and explained below, for ready reference of Readers.
1. Amendments pertaining to Capital Gains
a. Section 2(42A) of the Act is proposed to be amended to provide that for all listed securities, the holding period to qualify as long-term capital gain, will be 12 months and for all other assets, it shall be 24 mont.