# The Finance Act, 2024 (No. 2), Section 38: Amendment of section 115E

- Act: The Finance Act, 2024 (No. 2)
- Ministry: Ministry of Finance
- Source URL: https://indiacode.ecourtsindia.com/finance-act-2024-no-2/section/38/

## Text

Amendment of section 115E. 38. In section 115E of the Income-tax Act, in the long line, for clause (ii), the following clause shall be substituted and shall be deemed to have been substituted with effect from the 23rd day of July, 2024, namely:— "(ii) the amount of income-tax calculated on the income by way of long-term capital gains referred to in clause (b), if any, included in the total income,— (A) | at the rate of ten per cent for any transfer which takes place before the 23rd day of July, 2024; and (B) | at the rate of twelve and one-half per cent for any transfer which takes place on or after the 23rd day of July, 2024; and".

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