New Delhi, July 23 -- During financial year 2024-25, if a taxpayer happens to sell a capital asset, including a property or jewellery, they are liable to pay capital gains tax, subject to certain rules and exemptions. The current rate of long-term capital gains tax, which came into force on July 23, 2024, is 12.5 per cent on all financial and non-financial assets. Here, we give a lowdown on capital gains tax and the related provisions:

I. Long-term capital gains: Listed financial assets will have to be held for more than a year, while unlisted financial assets and all non-financial assets will have to be held for a minimum of two years to be classified as long-term.

II. Exemption on financial assets: There is an exemption of Rs.1.25 lak...