A long-term capital gain arises from selling property held for more than 24 months. As mentioned above the rates will be 20% for transfer made on or before 22nd July, 2024 after indexation benefit. For subsequent transfers, the tax rate shall be 12.5% without the indexation benefit.

As per the proposed amendments to the Finance Bill 2024, taxpayers will be given an option to choose between a lower tax rate of 12.5% without indexation or a higher rate of 20% with indexation for properties acquired before July 23, 2024