Quick Summary
Amid growing speculation in various media outlets regarding a potential change in long-term capital gains (LTCG) tax rates under the proposed Income Tax Bill, 2025, the IT department has issued a clarification categorically stating that no changes in tax rates are being proposed in the draft legislation. Recent media reports have claimed that the new Bill may introduce revised LTCG tax rates for certain categories of taxpayers. However, the department has dismissed these claims, emphasizing tha
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FAQ :
No, the Income Tax Department has categorically stated that no changes to the existing LTCG tax rates are proposed in the draft Income Tax Bill 2025.
The primary objective of the Income Tax Bill 2025 is to simplify the language of tax laws, modernise tax provisions, and remove redundant or obsolete clauses from the current Income Tax Act, 1961.
Yes, some media outlets have reported that the new Bill might introduce revised LTCG tax rates for certain taxpayer categories, but the IT department has dismissed these claims.
Taxpayers are advised to rely on official notifications from the government and parliamentary proceedings for accurate information, rather than speculative media coverage.
The draft of the Bill is currently under review and is expected to be tabled in Parliament in the upcoming session for discussion and approval.
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