# The Finance Act, 2024 (No. 2), Section 63: Amendment of section 196B

- Act: The Finance Act, 2024 (No. 2)
- Ministry: Ministry of Finance
- Source URL: https://indiacode.ecourtsindia.com/finance-act-2024-no-2/section/63/

## Text

Amendment of section 196B. 63. In section 196B of the Income-tax Act, for the words "at the rate of ten per cent", the following shall be substituted and shall be deemed to have been substituted with effect from the 23rd day of July, 2024, namely:— "at the rate of— (a) | ten per cent in respect of income from units referred to in clause (i) of sub-section (1) of section 115AB; (b) | ten per cent in respect of long-term capital gains arising from transfer of units referred to in section 115AB, which takes place before the 23rd day of July, 2024; (c) | twelve and one-half per cent in respect of long-term capital gains arising from transfer of units referred to in section 115AB, which takes place on or after the 23rd day of July, 2024.".

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