CBDT issues FAQs on New Capital Gains Tax regime proposed in Budget 2024-25

The CBDT has issued FAQs regarding the new capital gains tax regime proposed in the Union Budget 2024-25. Key points include the introduction of a simplified tax structure with new tax rates, adjustments to the tax treatment of long-term and short-term capital gains, and changes to exemptions and deductions. The FAQs clarify the applicability of the new regime, the process for opting in or out, and the impact on investments held before the new rules came into effect. Additionally, there are updates on how the regime interacts with existing tax provisions and compliance requirements for taxpayers.