However, the tax rate on long-term capital gains has been increased from 10% to 12.5%.“This change streamlines the tax filing process, making it more accessible and less burdensome for small investors and salaried individuals, encouraging timely compliance,” says Sandeep Sehgal, partner, tax, AKM Global.However, if a taxpayer earns long-term capital gains in excess of Rs 1,25,000 or any other long term capital gains other than equities or units of business trust or earns short-term capital gains or has carried forward or brought forward capital losses or derived income, the salaried individual would have to fill Form ITR-2 for filing return of income.There is a similar change in the ITR-4, which applies to tax payers resorting to presumptive taxation for their business income.
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