Direct tax, capital gains simplification welcome steps: PwC India

Tax experts have welcomed the simplification of the capital gains tax regime and direct tax announced in Budget 2024-25. "Marginal increase in long term tax rates from 10% to 12.5% and slightly higher for the short term gains from 15% to 20% has been announced with protection for small investors,” says Gautam Mehra, partner, PwC India.

This was accompanied by a strategic simplification of the capital gains regime by unifying the qualifying periods are steps in positive direction, Mehra says.